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Another good post Monty, that no share holders are willing to say positive or negative in their personal beliefs makes me think this will be a generic update? very strange indeed.
Many thanks drmike33 for advising how to get an update.
tabs, I know you won’t admit it, but you will still check in on our board as you do have the very slightest glimmer of hope inside you, just hang in there.
GLA real holders.
Drmike, many thanks for your guidance. I am also one of those that holds shares in a nominee account and have provided a screenshot of my holdings but received the same response as FinnFCR. I have replied back and now await a response. Nevertheless, it does seem that the NDA Deloitte has requested shareholders to sign before releasing the report is watertight as it has stopped everyone from saying anything meaningful. For me and many others, we are mystified with this approach. Should we interpret such an approach as good or bad and by having this approach, who is Deloitte trying to protect? Is it SN, the shareholders or just the Creditors. And when You say it is pointless for you or anyone else who has read the report to say much as each reader could arrive at differing Opinion, that is also a little strange thing to say as all shareholders objective should be the same: is there a way back for us. So the question for you personally is, are you hopeful or dejected after reading the report? But you don’t need to answer if you think it will open a deluge of new questions. However does the report give recommendations and does it give a date of the next creditor meeting?
Well, I suppose if it’s not that obvious if it’s a positive or negative depending on how you form your opinion then it is probably not that worthwhile doing anyway!
Nothing "mysterious", nothing "secret", nothing "disgusting".
Simply a case of requesting a copy of the report from Deloitte, which should be provided when ones shareholding status is confirmed, and then having the sense to comply with the clear confidentiality conditions.
It seems to me to be a pointless exercise for me or anyone else who has read the report to opine on whether it positive/negative or anything else. My opinion may be completely different to others. Everybody who is entitled. needs to read the report and form their own opinion.
The turnaround time by Deloittes in response to my request cannot be faulted, and I would again encourage shareholders to submit their requests.
all i would say is what a complete load of *******s time to switch off here for good
It’s all very mysterious…
Hi Bezzy,
All I will say is I would urge legitimate shareholders to request the report and make their own minds up. I'm very glad I spent a little time compiling my request on Saturday and received the report today. So again I would encourage you tosubmit your request, but always be mindful of the confidentiality caveats.
Good luck to all shareholders going forward.
Iv wrote to Halifax asking them to provide the required details for me to get the secret report.
Drmike33,
May I ask how you feel about the content of the report, without revealing any content, please?
Kind regards,
Bezzy
Is that SN buys the liquidated company for nominal amount then reverses the asset back to FRR. Otherwise it is anyone’s guess. Disgusting all round
Hi erazzel, FinnFCR et al.
My shares were held in my Selftrade stocks and shares ISA at the time of delisting and were subsequently removed from my ISA.
My Selftrade account was thereafter transferred to Equiniti and then Interactive Investor.
As I posted some time ago, my Selftrade statements were transferred with my account and when I liaised with Interactive Investor they directed me to these historic statements being accessible to me via my online Interactive Investor account.
I have written, via email, to the liquidators providing copies of my Selftrade statements and my full contact details and can confirm that today I was provided with a copy of the report.
Perhaps my details do appear on the share register, or perhaps the liquidators were otherwise satisfied with the documentary evidence that I provided.
I post this information not to gloat, but to provide some reassurance to others that they may be able to receive the report.
Before anyone asks, I cannot share the contents as per the confidentiality clause which accompanied the report when provided to me, but please take reassurance that if you are a shareholder (even without a share certificate) and take the time to evidence this, then the liquidators will provide the report.
I hope I haven’t jeopardised our relist sharing this information. Or the bogeyman doesn’t come get me
Dear Sir/Madam
We are writing to confirm your request to be provided with the Liquidators’ first report to creditors of the Company (“First Report”).
Pursuant to Order 10, rule 1 of the Cayman Islands Companies Winding Up Rules (2023 Consolidation), the official liquidator shall provide copies of their reports and accounts to any contributory upon request. The Cayman Islands Companies Act (2023 Revision) defines a contributory as a holder of fully paid up shares of a company (i.e. a shareholder).
We have reviewed the Company’s register of shareholders that was made available to the Liquidators by the former registrar, and your name does not appear on the register. This is likely as a result of you having invested in the Company by way of a nominee or custodian. In that case, your nominee or custodian would be the shareholder. In consideration of confidentiality and due process, the Liquidators are only able to share reports with shareholders. Therefore, we require consent and authorisation from the shareholder of record to provide you with the report.
In that regard, before being in a position to share the First Report with you, the Liquidators will require a letter from the shareholder of record addressed to the Company (acting by its liquidators), which contains the following:
confirms the name of the shareholder of record of the Company;
confirms the number of shares that it holds beneficially on your behalf; and
authorizes the liquidators to share information relating to the company to you.
The letter will need to be addressed as follows:
Joint Official Liquidators
Frontera Resources Corporation (in Official Liquidation)
Deloitte & Touche LLP
60 Nexus Way, 8th floor, Camana Bay
P.O. Box 1787, Grand Cayman KY1-1109, Cayman Islands
By email to: frcliquidation@deloitte.com
Kind regards,
Alex Maguire
For and on behalf of Joint Official Liquidators of
Frontera Resources Corporation (In Official Liquidation)
For those shareholders with shares in nominee holdings through brokers that are no longer in business, they have no chance of reading the first report.
Does that mean there is no value in sell the licence to our oil field in a fire sal? Is the block worth feck all like our shares?
Monti
Just thought on 2 words.
In end think it was your goodself that went along lines of SN offering a % of £1 per share & getting Frr back.
Enjoy
Well, you could add another word to your two words list Ars221, which is neutral, meaning it’s progressing ie there is a proposal which is subject to Creditor vote. Alternatively, the report from Deloitte was only completed post the 14th March meeting which is circulated but awaiting a follow up creditor meeting. We can all guess/assume that the Deloitte report will not be pretty reading but the important question is whether there is a deal from SN to try and put FRC back to pre-wind up condition.
Given there is no money or assets in FRC, and noting Deloitte is not a charity, we can expect a quick conclusion one way or another.
****nal221,
100% correct , i am taking your comment as a lucky charm 🍀
the untouchables!
gla real holders
Overall only ether of 2 words need to be used positive or negative.
Enjoy
Out of interest, if it’s game over then why not just disclose this from the report?
FORGOT TO TURN THE CAPS OF SORRY.
Tabs, there's more life in a tramps vest.
THANKS GUYS HAVE JUST EMAILED dELOITTE AND FILLED IN THE FORM SO JUST WAITING ON THEM GETTING BACK TO ME THANKS TOATIE.
Tsbs: We all know the facts: we are shareholders in a Company that is currently being liquidated. As part of that process the Liquidators produced a first statement which included that they had discovered no liquid assets and that there were creditor claims. These are the facts.
As part of that process they've now produced a Liquidators' report. I have been told not to say anything about what's in that report.
ODR from what youve seen has this any more mileage