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Taffy 60% up, means nothing on a tiny investment. I am 97% down on a very large investment, but i prefer not to cry.
but...you just replied?
Stop asking questions big shot, and tell us where we're going wrong. Shoot...
What do you suggest, a pigeon? There is no telephone number that you will gain any answers from. If you are suggesting FCA, press etc, its all been done. We've seen it all here, and as for rampers like yourself, if we've seen one we've a million of them.
Well Taff - sounds like you are relatively local to the seat of power (unlike some of us who are banished to far-flung outposts overseas). So can we assume that your enthusiasm for action can be channeled into arranging/attending at the GKP office for a head-to-head ? Over to you old chap..........
So you show how little you know of the company, and the fact that, there is no official channel to do that. IR Dept was done away with about 2.5 years ago. At best, you will get an automated email response to any basic questioning. None, to anything more detailed.
Such as..?
Paradise papers throw up Phillip May and Capital group who are GKP shareholder since 2007 and hold other Kurd sw-oilersshares, along with MD mate in Jersey and a MP Capital Group�s Cayman Islands funds, CGPE V LLP and Capital International Private Equity Funds (CIPEF) V LP, invested in a Bermuda-registered company called El Tejar https://www.thelondoneconomic.com/news/theresa-mays-husband-philip-serious-questions-answer-company-accused-paradise-papers-tax-haven-scandal/17/11/ MORE DETAILS IN PARADISE PAPERS Capital group were involved in WZR as well
Agree the more you think about it the more it stinks. Why are the BoD not coming clean on what has been going on. The bonus scheme has been most shocking. You wipe out your owners and then you reward yourself for it. Words can’t describe it. In the olden days pilloried and and throwing rotten food was one punishment. Need something like that here.
This whole sorry saga warrants an official investigation/explanation. I am particulary suspicious of these two totally unjustifiable bonus/staff retention schemes which the BoD were offered and had approved straight after the 100:1 dilution. What was that slap-in-the-face to the PIs all about ? What had the BoD just agreed to to justify these ridiculous bonuses ? Join the dots guys - this isn't too difficult to see through. We need to get the Press involved in an investigation/exposure - juicy stuff for some thrusting young investigative journalists indeed. Any of you UK based guys have contacts to set our ball rolling ?
Yes agree the story behind the implanted MP needs to be outed. How the hell did they agree to wipe out shareholders when 600m + interest was due to the company. We were told that low oil price meant that not enough revenue to pay - well clearly that not true. Also claimed that KRG are bankrupt - well how can that be true if they haven’t paid any salaries. We seem to have been the sacrificial lamb for failed attempt at Kurd state. Is it too late to take MNR to court? Why should we accept payment over 5 years - that’s not in the comtract they signed.
Bit obvious why no? Wipeout
Exactly my sentiment and source of my ongoing grumpiness FH1: $620M + compound interest back over 3 yrs is a tidy debt owed to a small, struggling UK company operating in a lawless, tribal environment. Just why JF didn't use it to fend off the 100:1 wipeout remains a serious point which he has to come clean on: Was it his fear of the allmighty MNR & it's associated mafia (their bid for a breakaway state certainly turned that into a damp squib to our costs !) Was it wise counsel from the implanted MP (as if !) Was it a simple ploy to wipe out us lowly PI's in favour of the BHs (or those who stand behind them in the shadows ?). It will all have to come out in the wash (and heads will surely roll for a BoD making unsound deals with the devil when a perfectly functioning UK legal system would probably have protected the shareholders) - or heads will have to roll if it doesn't. Whatever.
So BoD have confirmed that MNR owe 600m in back payments. This roughly equates to the debt that was swapped at 100:1 for PI equity. Interesting that crash in oil price didn’t impact this figure. So if MNR had paid this then restructure wouldn’t be necessary. Have BoD really done everything they could to protect equity. Why didn’t they take MNR to court?