Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
You seem very angry .and very strong words for someone who has posted with good reason and figures And strong argument to your calculations .there is no benefit to this rant as the bod would find it a joke ,I suppose in there eyes it's better to have loved and lost than never loved at all .a good saying is if it flys floats or f**ks you are better of renting because if you own it and it goes wrong it is far more costly ?
Here is just a little Friday present from me to the MXP team of managers that have hurt so many of us so very badly: FU. And while it hurts financially having lost so much money due to the lies, deceit and reckless misrepresentations made repeatedly by the senior managers of your company over the years, I nonetheless cannot fathom what it must feel like for each of you when you try to go to sleep at night, each night, knowing that you have destroyed so many families and so much investor capital in that same time period. The guilt and angst that each current and former MXP corporate officer must feel each night as they lie in bed trying to sleep must be overwhelming. And it should be. So FU MXP BOD, both past and present, each and every one of you. While I will take no pleasure in watching the investments of the retail shareholders who post on this message board go to zero value, I will take pleasure in knowing that each MXP BOD member has lost everything in the pending raging MXP fire.
Here are the necessary assumptions: - the remaining balance of US$1.26 million relating to the second tranche of the Bridging Loan received by the end of August and the proceeds of the Subscription of US$11.8 million (net of the Bridging Loan) received prior to the end of September 2015, following the fulfilment (or where appropriate waiver) of all conditions thereto as set out in detail in this announcement; - future revenues and expenses cash flows remain in line with expectations; in particular stable oil production of approximately 4,100 bopd and Brent crude oil prices of US$50 per barrel or above during the period; - contracted volumes are delivered to domestic oil customers throughout the remainder of 2015 as settlement towards their outstanding prepayments with no further cash received; - payments to certain creditors which fall under the scope of Rehabilitation, amounting to US$11.1 million, are suspended in conjunction with Rehabilitation, pending the agreement of the rehabilitation plan with the affected creditors; - creditors which are currently overdue and immediately payable and which do not fall under the scope of Rehabilitation, amounting to approximately US$1.8 million, are paid in September following completion of the Subscription and no legal actions are initiated for immediate payment; - no payments are made in relation to the potential historical costs claim by the tax authorities in the Republic of Kazakhstan, described below; - no payments are made in relation to any penalties relating to shortfalls on the 2014 work programme commitment, described below; - no payments are made to Sberbank for either principal or interest; and - no payment of US$3.6 million is made to replenish the Liquidation Fund during the period. Should any of the above assumptions prove inaccurate the Company would require additional financing, which, if not forthcoming from AGR Energy or any other party, would likely render the Group insolvent and require the Board to put the Company into administration. Yikes! I'd say the odds of a snowball flying through space from London to the surface of the sun fully intact and completely un-melted is more likely than this deal closing.
Yeah right igor, and also it is absolutely highly "possible that eroneous trade in july was a way of extending the 6 months [sic]." You are so clever and intuitive. Who knew that one could just make an "intentional trading error" to circumvent well established securities laws. Did you fall out of the retard tree and smack every super-retarded branch on the way down? Has anybody read the assumptions needed for closing as listed in the proposal? There is no way on this earth that those will all happen. One single lawsuit by even one small vendor and the equity dies completely immediately. And I will leave you with this to assist in funding your dilutive weekend nightmares: "The Subscription will provide working capital to the Company to alleviate its severe immediate financial stress. Further significant financing will be required in the mid and longer term to re-establish going concern status and viability of the business."
Are you a f.ing retard??? does the term haha not give it away abit?
"sooner or later the cheque will be in the post. Can't help thinking I've nabbed a 10 bagger. haha" You've gone mental Coggybear. First, a 10 bagger would require a 30 bagger net after the pending (and still highly contingent) "preliminary" dilution. You are about to get diluted by 66% for some working capital - not to refinance the Sberbank debt. You do understand that, right? And after that, if it survives at all, MXP is going to have to look to refinance all of the defaulted debt with Sberbank and everybody else (this they have told you already), but only after MXP re-prices its assets (they tried to slip that little gem in there on you). Given Brent prices, do you think the asset prices will be revalued lower, or higher than what they are booked for right now? And, Sberbank has to approve this deal, per the RNS. Do you think it will accept initial 66% dilution of its equity security only to know that more is coming? Or do you think it will give MXP the middle finger and seize the wells? What would you do? I am sure that we can agree that Sberbank's decision will be based entirely on whichever move limits its pending losses by the largest sum of money, since it is now going to suffer severely from MXP’s poor execution, and I can assure you that Sberbank has an army of well trained MBA's from the London School of Economics analyzing all of its transactions. I am betting that MXP will likely still go into admin any day now since Brent prices are eroding rapidly. If it does not, your net dilution will be about 99.99% after they get done refinancing the debt on top of the AGR 66.66% dilution. As of today, they claim assets of about $40 million against $120 million+ in current liabilities, and now are openly referring to themselves as being completely insolvent. Does that really make you think that you, as a retail equity holder, have a pending "10 bagger?" What lender living on the planet earth would take a haircut so the retail shareholders could prosper 30 fold from today's cluster-fart of a company? I need to read the entire RNS with an eye towards interpreting the Wordsmith's garbled noise. I will report back with my findings. In the mean time, if Coggy wants to lay out his case for a pending 10 bagger, I certainly invite him to do so vs. his history of printing completely unsupported conclusory theories of value.
possible that eroneous trade in july was a way of extending the 6 months???
It means we could be trading again in a few weeks!
Oh dear. Missed that bit. I know Max's record and it's not good at meeting deadlines. Time to get their A's into G and sort this MotherF soon. Would hate to be told "I told you so" by you know who oooo! haha
12. Suspension of trading on AIM As a result of the uncertainty surrounding the Company's financial position, the Ordinary Shares have been suspended from trading on AIM since 2 March 2015. Pursuant to Rule 41 of the AIM Rules, cancellation of admission of AIM securities will occur where these have been suspended from trading for six months. The Company is working to fulfil all relevant conditions for completion of the Subscription, and otherwise to publish information on its financial position, in order to restore trading and avoid cancellation of the Ordinary Shares from AIM. However, there can be no guarantee that the Company's Ordinary Shares will not be cancelled. In the event that admission of the Ordinary Shares to trading on AIM is required to be cancelled, further information on its effects will be provided to Shareholders.
sooner or later the cheque will be in the post. Can't help thinking I've nabbed a 10 bagger. haha
Hurry up and get back on the market. Afr was bad enough
gave me a message for you Oily. Seek professional counselling and whatever form of abuse you suffered in your youth should be reported to the appropriate authorities.
Well, as they say, the letters in the post!
Between old friends!
$82,000,000? A mere bagatelle old boy.
Thanks Coggy, you have just CONFIRMED it. GLA and Stay Blessed.
Ah yes, I have heard this saying. Unfortunately, it discounts the inclusion of a massive $20 million tax lien from a predatory government, a sustained revenue decrease of 50%+ with no hope for a near term recovery, vendor liens, and employee wage claims. Funny enough, the SAS combat training handbook has a procedure in place for just such a situation. It reads like this: 1) Sit on the ground. 2) Pull your legs back so that your feet are behind your ears. 3) Lean your head forward. 4) Kiss your bloody arse goodbye.
theres this saying, if you owe the bank 1 million quid they have you by the *******s if you owe them 50 million, you have them by the *******s
Coggy - that is excellent news indeed! I am curious - did you receive a proper printed paper receipt summary of your account from the cash machine upon conclusion of your transaction? If so, did it should a negative balance of -$82,000,000? If it had, do you think the bank would have been so willing to issue you cash money? I'm just asking...
Just withdrawn some money from a Sberbank operated cash machine. If they've the confidence to give me money, with my credit rating, sorting out Max's debt repayment should be a breeze. Remember, you heard it here first folks!
Hmmm, you're right. Bread it is then.
bloody nice little meal bread and drping, not to be sniffed at
Recommended, but we call it beans and sausage where I come from, which by the way is far too extravagent for SpunkDunkTechniq. I prefer to see him live in squalour on bread and dripping.
We will not be delisted