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Suspension should be lifted for the sp to rise first with additional float added after a positive judgement.
When judgement is announced and good news begins to resonate the sp can go higher and new float at £xxxp /price can be issued.
Keeps all stakeholders happy incl LSE.
Hi you are referring to the debt owed?
$136 -$200 in July?
Now I’n thinking will the temporary suspension be lifted first or the judgement?
Sorry it was Borrelli Walsh who recovered USD 136 from G3E for Nordic Trustees
I’ve been avidly reading this board for the last six weeks, in anticipation of good news regarding the share price outcome on the GDG winding up. I thought I’d register now with Lse.co.uk so I can post any findings. I’m holding just over 26k shares bought at an average of 19p. I too have been scouring the internet for more information.
https://dmsprod.azureedge.net/dms/Uploads/Event_1627/Downloads/20200831%20-%20Introduction%20to%20Borrelli%20Walsh.pdf
On page 2 of this pdf (dated July 2020) is noted the recovery of USD 136 m by Borelli Walsh on behalf of G3E.
Think the lack of news and with it a being a very strange year all round, it’s making me sweat
Well I’m hoping my 20k isn’t going up in smoke and pretty confident that is why I left it all in .... so positive Peter :)
Fingers crossed then , I’m in for £8300 so not massive but hope I don’t have to wave it off
Bigbadruud. It’s always possible you seldom get a potential big upside without risk that’s why many (Including me) took their original investment out and left profits to run. I’d say a favourable outcome is more likely due to the asset size though. If we are right those who have been stood in the sidelines will be rushing to get in and not only will it gap up on open but there will be immense buying pressure ..... IF!
Hi Gents,
Hope you are both right.
If there is a buyer and it’s case of get it over the line and conclude, then the Nordic Trustees can have their debt paid back, any further delay, each day adds additional costs/ interest, legal fees, thus reducing the shareholder value. They must be aware of this, plus on conclusion chinese gas production can resume immediately once Nordic Trustee are happy and allow. The local chinese Govenor is now involved to ensure gas production resumes in local region as soon as possible. As folks are suffering from this case. This all adds pressure on G3e and courts to get over the line and resolve asap. This is public information as many know already.
In addition there are Numerous other plc’s undergoing sale disposals and selling of large assets in this environment to raise necessary cash to pay creditors/ debt, but come through in better shape.
G3e, we owe around £200m - £210m currently I think. ($200m in June filing)
This has to be days away therefore?
What’s the odds of the company going bust and these shares being worth 0 ??
That’s actually encouraging!
It’s more than a simple winding up, I’m still thinking they already had a buyer in place for the assets ( hence the company support for the application) and this week has been about crossing the T’sand dotting the i’s. I think that when dealing with a listed company and market sensitive news there must be certain rules in place re confidentiality regardless of weather the share is suspended or not.
Well fig you beat me to it !! I was on this early this morning but glad I checked here first lol... well done bud I didn’t think they would say much at all but maybe I might follow this up with question regarding “ public information regarding the original hearing , when will it be live on the court website or other ?” Might give us an indication then who knows ? We won’t be waiting too long for this action I don’t think and I have a feeling fig it’s gonna be off the scale :)))
Evening,
I sent an email enquiry yesterday, as G3e had not responded to my email.
This time to Judiciary through web. Prompt professional response from Judiciary.KY this evening.
I would like to share this with you:
The response:
Subject: Nordic Trustees v G3 Exploration
Dear Mr xxxxxxxx,
His Lordship has advised that there is confidential information to which only the attorneys are privy to in these matters, therefore the Courts cannot at this time provide any information to outside parties.
Nonetheless, your email query was forwarded to the relevant parties.
Thank you
Xxxxxxxx
To Judiciary:
Subject: Nordic Trustees v G3 Exploration
Good Morning
I am enquiring from the UK.
Regarding the above Case which was expected to be heard Oct 13th-14th – 2 day hearing.
Could you kindly confirm the Case was heard on Oct 13th-14th?
When is the final verdict/ judgement expected?
I tried searching on your website on financial judgements. I cannot see either filings.
Thank you in advance.
Mr xxxxxxxx