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From what JM has told us it means the MSC fuel agreement has been with lawyers to sign off for over half a year now. The rational investor will come to the right conclusion regarding this.
With such a delay, wouldn't QED have to issue some kind of official RNS to explain the delay?
it clearly has an impact on the SP....
For once HF I have to agree with you that there is a certain degree of concern surrounding the signings of these contracts. I know JM has always stated "Its with the lawyers" and that nothing else untoward is delaying it other than admin. He also stated that the way large companies like MSC and Cargil operate are on a priority basis where the agreement is no doubt under a pile of paperwork waiting to be worked/signed, and as the pile gets sorted in priority order, it means that if a constant flows of more important agreements/cases come forward we will be pushed down the queue.
This is all well and good and gives the feeling that maybe MSC and Cargill have much bigger contracts on their tables which require more attention than ours leaving us twiddling our thumbs on when they will finally get around to us. However, as pointed out, it has been almost 6 months since we were told the contracts will be signed imminently, and we are still no closer to knowing when that will be, and the longer it is taking the more my mind delves into the realm of concern on if it truly is just an admin and priority delay problem, or if something else is holding this signing back.
I expect things to take time, but when you are almost 6 months down the line from when our own CEO thought the signing was imminent within days/weeks it becomes abit daunting and concerning on why such a long delay has taken place. In addition to this, its not like Cargill or MSC are at the mercy of a third party lawyers who have time constraints and other clients to attend to, as they have their own internal sector for such things which makes this delay even more suspect.
I hope my mind is just toying with me and making me concerned over nothing, but the delay is becoming a little extreme, a few weeks to maybe a month or two delay for admin issues sure, but when you are clocking upto the 6 month line, it then starts to raise questions on if this will happen rather than when. Ofcourse, no RNS has come out with any real concerns over this, and JM has constantly thrown the line that its a waiting game, I just hope it is just that and nothing more.
i actually have worked on very large contracts with universities, governments, the nhs etc and while the time being taken here is at the top end of what i have experienced, it is something that happened far too often. lawyer 1 says we don't like this term, goes back to lawyer 2. lawyer 2 says this will mean altering other terms, meeting held with different departments on impact, lawyer2 goes back and says ok we can change that term but we wont change the other terms and on we go round and round till someone on each side with authority says "just sign the damn thing". i am presently trying to get clients over the line since november last year with issues like this. they do happen in the end, just a massive pain in the ****.
The actual time has been a little under 5 months since the agm comments and subsequent comments in December 2023. It is a concern and what the truth is remains to be seen, but yet again HF13 has got it wrong. It has not been “over half a year”. If he can’t count back a calendar, one wonders how he coped with these big deals he’s been involved in! Oh wait, he wasn’t.
I see the overall MSC progress since July 2022 as rather poor.....
Thats fair Whisky, it was mentioned near the back end of November on the 27th, I guess when just looking at the months and not days it makes it visually look longer than it is lol. So I revise my statement to clocking 5 months not 6, which may reduce the waiting anxiety a little less, but there is still an ever creeping concern as time ticks on.
And Light, I do hope its just that, a lawyer delay thats being overzealous in the time its taking. But even then, if they are arguing over terms and concessions that it isn't causing any real concerning friction as despite reasurance that its "with the lawyers" there is always the ongoing concern that someone may simply not budge on something causing the whole thing to either be wholly rewritten or someone removing themselves from the deal itself. Ofcourse thats just my pessimistic side creeping out on the large delays we are experiencing, but hopefully its just all textbook lawyer in fighting of minor issues which wont be deal breaking but is just taking more time to reach a stable agreement. Fingers crossed and toes crossed its just as JM says and its a waiting game only, but unfortunately JM isn't known for the accuracy of his words lol. Oh the joys of investing.
Whiskyman...you must be the thickest poster on a share forum of all time and you just post to try and get one over another poster. As i have advised before seek help regarding this awful trait. Chat to somebody more mature than yourself (anyone over 16 yrs old)
The AGM was in November when we were told the MSC agreement was with the lawyers. It is now April. That is 6 months you fool.
Crownos...yes the AGM was on the 27th Nov when we were told it was with lawyers but obviously it had been with lawyers weeks before that date.
To be fair to Whisky HF from the 27th Nov 23 to present its 4 months and 22 days. So he is right on that front. As I said, if you only count the months it visually looks like 6 months, but its technically not.
I could understand MSC having second thoughts to sign with a company that makes bubbles in heavy oil from a kitchen using cheap equipment and that took 3 pumps to make it work at another client's... Hahaha..
HF, it may well have been with the lawyers for longer, but we can only speculate on when it all started, but if we go off the facts that we know of, then the 27th of November is the only date we can pin anything on regarding the negotiations, anything prior is speculation.
Crownos..you could say a minimum of 4 months 22 days but I would be confident to say it is nearer 6 months. However the bottom line is it is still one hell of a long time. A 60 page plus Vodafone deal with another telecoms company I am aware of took just under 3 months to be signed off.
“The AGM was in November when we were told the MSC agreement was with the lawyers. It is now April. That is 6 months you fool.”
This comment explains everything one needs to know about you HF13 and your attitude to facts and detail. By the way, you said “over half a year”. Wrong by quite a margin.
either way, they have just relieved us (or most of us) of more of our hard earned and i suspect they will continue to slink off '***in like' to their 'kitchen and bubbles' (made me laugh phlan...), count the pennies and remain silent whilst we are left hanging, guessing and hoping.
some days, i feel like vince, other days i feel like ak and the rest of the time i try to forget it and focus on the day job!
i too work in an environment based on legal contracts (recently completed one with nhs too) and agree with those stating that this isn't as unusual as we might wish, but equally, there does come a point at which experience dictates that if it hasn't happened by now, it probably wont happen at all. i don't think we are anywhere near that at the moment (especially given all the other stuff in the world requiring the gaze of msc) but that sense adds to my wish that jm would throw us a bone every now and then....after all, he could almost taste it before christmas!
I dont know why I cant type F-A-G-I-N in a message...its Oliver Twist, not Stormy Daniels!