The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Am surprised young Mr Tsbs does not make it his mission in life to find out how he can better the life of folk in Carlisle by following the example of the Barrow Boys.
Anyway nice to know that that despite us all being underwater here ( know Coggy you are used to it being in submarine land) but hopefully we have been thrown a life jacket
You'll be visiting us next season young Tabby me lad, when you get relegated. lol
Ivy, Nice one 👍
Religion divides, music unites.
Que sera, que sera.
Woke up at four what for.
Our messed up world is at war
Fighting for land they claim is theirs ?
Whoever stands up and has a strong will.
They punish and kill.
Take care, life is not fair.
A good read in what has gone on for years in O&G industry, a very small insight in how hard it is to get a deal over the line, in my novice investment searching into our company I even read up on our leaders father, tried to get to know who is running our company, he lived it breathed it and was successful in his game. A small read on working in corrupt countries, things like this got me buying shares in our company over a 4 year period ,it now gives me “HUGE” belief that our leader will get this deal done, he comes from great stock 💪👍
Read or don’t read, believe or don’t believe. Filter or don’t filter, Your call folks? I care not a jot.
So not for one second think everything that has gone in globally is not linked, Ukraine, nord stream etc etc etc, if deals like ours where easy to conclude, everyone would do it.
https://journalrecord.com/1996/08/oil-firms-face-challenges-in-politically-volatile-countries/
GLA real holders
Chairman of barrow what Ivy ?
Or just of barrow itself
Tabs, lovely bit of dark humour, keep it up, better to read than just moaning.
FRR is in Georgia. Putin wants it for Russia. He kills everybody
in his way. There is a team of cyber thugs determined to finish
him off without trace. Forgotten is his face.
If we dont post , even spam the board will end up going down
Not long to wait now jmolina the company is being bought out next week by exxon
Ha ha life is hard had to look him up and believe it or not my one time attendance at a football match in Scotland was at Starks Park.
For context Coggy I went to school with an ex Chairman of Barrow
Mapp is filtered and is treated like a spy.
BY the FCA? Hooray.
There is a lot I wish to say.
Filter away jmolina, only responding to lighthearted messages. Better than the real spammers, but again feel free to filter 👍👍
You seem like a nice and genuine fella Lifey but please, for the love of God, stop with the incessant spammy posting.
Maybe get a chat room somewhere else with Lady Mapp? x
Ivyspivey, that’s very good 🤣🤣 but don’t ever underestimate the power of Brian Potter, he made the Phoenix club rise again! Just like our leader will do with our company 💪👊👍
Lovely lady Mapp, no movie made without you, you could be our Grace Hawkins ( Maggie Smith in keeping mum ) who silently kills off the enemies like smelly sausage aka Billy Bibbet, Mission impossible 5 eat your heart out.
It will be a box office success, just not as big a success that our leader “ S” aint “N”ick is doing right now for us and our company🙏
GLA real holders
Fulham John... "That's nonsense - there is no numeric percentage of creditors that need to agree. It is purely on value and that value is 75%" 🤡
Life, look forward to your film when I am the wise one.
Shall dress up in style, not look like a nun.
That film will be comedy or a tragedy without me.
Never mind Brian Potter we could do with Harry Potter.
Hope you are well Coggy
That makes a lot of sense Looed, but I think SN was singled out and thanked specially for arranging the meeting and seemed to be in the center of the event (that is what I find fascinating when his company was in a mess).
My comment about the ‘dire position with the GG’ is in reference to no clarity on the expired PSA or any news/agreement on how FRR was going to settle the outstanding legal costs that FRR was ordered to pay by the Arbitration Court (c.$5m?). Until this issue is amicably resolved, there is going to be some apprehension. But alternatively, they may have accepted SN’s version that ZM was the main protagonist evidenced by him openly and blatantly lying in the media that the Arbitration Court had sided with FRR. Then there is also the permanent injunction order granted by the Texan Court.
Also, if I may, any recent interaction with the company and if so, whether you noticed any change in their approach since one of our members made contact with Deloitte. Thanks in advance.
Monti - I think it makes sense that the Georgian Ambassador visit Texas to meet heads of business and promote Georgian exports. The Ambassador has a lot of connections to SN / FRC both during his tenure in government and now as a career diplomat. As an example, he was very involved in the “Senators letters” incident so he dealt with many of the senators who wrote / visited Georgia. Perhaps that interplay played a part in his selection as Ambassador.
He has spoken many times about FRC, adversely at first but then more warmly as the government suspended the termination and as matters relating to ZM unfolded. Also, the GG entered into a MoU with the company, so another reason to meet and update on the current situation (especially as the WUP was inbound). SN has deep connections in the industry, so it makes sense to include other players and related businesses, especially if Exxon / others are trying to grow their footprint in the area.
What is the “dire position with the GG” you mention as I don’t recall any recent statement from the Georgians to that effect?
Looed: ‘…….That deal was completed about 6 weeks before the Ambassador meeting. So that might, at least in part, explain the Georgia connection.’
Hi Looed, what do you think could explain SN’s connection for being at that meeting, noting FRR dire (on the face of it) position with the GG and potentially an already expired PSA?
Practically, what i have seen is that majority debt holders (although minority in numbers), normally get their way and it up to them to convince the ‘little fish creditors’ to side with them otherwise nobody gets any thing given, especially noting the financial predicament of the company. But if this does not happen, then the Court nearly all the time approves the big holders proposal but this is a long winded process and perhaps Deloitte could play an important intermediate role here.
Similarly, its a bit like the small fish shareholders here giving it the big ‘un by taking the high moral ground and demanding us to contact the Liquidator because they have less to lose, compared to the poor old punter who has probably over invested. Sure, morally it sounds great but I rather be in SN’s camp than trying to be a martyr.
The rule is as follows (assuming you are discussing Scheme of Arrangement which uses the 75% rule) -
"The “headcount test” still applies to creditor schemes of arrangement meaning that the approval threshold is a majority in number representing 75% in value of the creditors or class of creditors (as the case may be) who are present and voting either in person or by proxy at the relevant creditors’ meeting."
https://www.conyers.com/publications/view/schemes-of-arrangement-restructuring-in-the-cayman-islands/
Or another way to explain it is -
"At each meeting ordered to be held the Scheme has to be approved by a simple majority in number (minimum 50%) of those present at the meeting and voting either in person or by proxy, provided they represent 75% of the value of the Class. Both requirements must be met, so a Scheme will not be approved if the simple majority controls less than 75% of the value or if those voting for the Scheme have more than 75% of the value, but represent less than 50% of the number of Stakeholders attending and voting at the meeting."
https://www.bedellcristin.com/knowledge/briefings/cayman-islands-scheme-of-arrangement-what-affected-creditors-andor-shareholders-should-know/
Should a class of creditor dissent, the courts can force the party to accept a deal ('cram down') if the proposal is neutral / beneficial had the Scheme not been proposed.
Gotreal "MontiBurns ..... No - its >50% of the number of creditors...... If 100 entities are owed money, 51 have to agree with the propsal."
That's nonsense - there is no numeric percentage of creditors that need to agree. It is purely on value and that value is 75%
Hope so Life, jolly well hope so.
Happy to play Brian Potter in your upcoming film by the way, although I've never watched any of the series. But Brain Potter as you've cast me, sorry but I've never heard of him 🤣🤣🤣
You will possibly need that coat for a sharp etc from Woolies window Coggy?
It was a response to your memory comment. Never mind, I'll get my coat. 🤣