IOG.L Share Chat (IOG)

Bebeto, something doesn’t add up here. The board need to be investigated.

Blood ninja, IOG plc holds shares in the subsidiaries yes but IOG plc shareholders do not.

Now after restructuring or asset sales of subsidiaries, if all the creditors are paid off, then any residual money left over can be paid to shareholders of IOG plc.

Bebeto,

Just Google it, if parent in administration then subsidiaries can be sold to pay creditors (but not shareholders I'm guessing??).

Bebeto, surely by virtue of the fact that they are subsidiaries means IOG PLC owns their shares (otherwise they wouldn't be subsidiaries?), as such the shares are assets owned by IOG.

IOG plc were using it's subsidiaries as a revenue vehicle to make the bond repayments that were owed by IOG plc.

Unfortunately, the subsidiaries couldn't make enough revenue causing IOG plc to default and go into administration.

The bonds were issued by IOG plc, the bond debt is with IOG plc.

There is no bond debt attributed with IOG plc subsidiaries, therefore the subsidiaries are not going into administration.

You own shares in IOG plc, you do not own shares in its subsidiaries.

IOG plc owns shares in it's subsidiaries, not you.

I've already explained shareholders in the parent company do not directly own a piece of the subsidiaries. Subsidiaries are like separate businesses with their own owners.

However, if the subsidiaries do well, it can make the parent company more valuable, which can be good for the shareholders of the parent company because the value of their shares may go up. But they don't own the subsidiaries themselves.

"The parent company's share price is influenced by the performance of the subsidiaries but no direct ownership from the parent company's shareholders."

That doesn't make sense?

We need to establish the relationship between the subsidiaries and IOG properly. Is there anyone here, who knows??

I'm suspecting shareholders have a stake in them??

>legally separate entities, which means they have their own ownership structure.

AFAIK, separate entities but owned by IOG Plc. (?)

Poorinvestor, sadly not as they are legally separate entities, which means they have their own ownership structure.

The parent company's share price is influenced by the performance of the subsidiaries but no direct ownership from the parent company's shareholders.

Thank you Snooz and Bebeto, so am I right to believe that the shareholders have a stake in the subsidiaries?

Subsidiaries of IOG PLC that are listed in the bondholders guarantee are:

IOG Infrastructure Limited

IOG North Sea Limited

IOG UK Limited

i.e. the bonds are secured against their assets in addition to any of IOG Plc. The directors aren#t going to be able to "protect" their assets from the bondholders, though they may from any other creditors.

There may be subsidiaries - you'd have to wade through these docs: https://find-and-update.company-information.service.gov.uk/company/07434350

IOG plc owns the subsidiaries, and is now managed by the Administrators.

The subsidiaries are managed by the same directors as before.

You asked to explain the RNS which I did. Now for your second question.

Operating subsidiaries are separate companies owned by a larger parent company, in this case, IOG plc.

Operating subsidiaries are structured in a way that provides legal separation from the parent company. This separation helps protect them from the financial troubles of the parent company.

These subsidiaries are distinct legal entities with their own assets and operations.

The subsidiaries are owned by IOG plc but they are not going into administration because the debt is with IOG plc and not the legally separated subsidiaries.

“bondholders and other creditors to consider all available options, including a potential restructuring to protect the operating subsidiaries which are not in administration.”

Bebeto, thank you for the regurgitation of the rns, I understand all that. Please explain to us what the operating subsidiaries are? Who owns them? Why are they not in administration?

Tis a cracker as I said before! A wee cracker!

They have appointed administrators to help deal with its financial issues. The administrators are talking to the company's creditors to figure out what can be done, which may include restructuring the company.

The NOMAD's have resigned with immediate effect, the company has 1 month to find another Nomad or the listing will be cancelled.

The company has said they have no intention of getting another NOMAD (nominated advisor).

Could someone with experience, please explain to me this latest RNS??

No there were ample opportunities to exit here over a 7 month period.

The company didn't have the wriggle room to do much else with the level of debt and under-performing assets, it always was a pending car crash for share holders.

I don't know why people believe rampers more than derampers but they do to their own expense.

Omg! The cheeky f****** I can't believe they've done that deliberately so that they can shaftesbury retail, take company private. Make the money, pay off bond holders and be a viable business. Absolutely disgusting. Surely thry can't just decide to do that about not appointing a joint broker and why would peel hunt etc resign? All in it together then!!!

Shareholders been well and truly shafted here

"One thing is absolutely certain here, me and bebeto are going to make loads of money with the cheap shares we have bought"

"We are not in administration yet, I’m expecting IOG to come out of suspension soon."

Absolutely shameless.

The days before the 13th Sept RNS, they were in court over non-payment of money due to Subsea7.

Absolute charlatans pulled the plug way too early.

Show us the account figures.

If you think it's coming back without being taken to Court then you're sadly mistaken. They didn't do it to give it back to you. They are gone with it