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I wonder how Jon Fitzpatrick’s success fee is structured that is within market norms and Strand Hanson had considered to be fair for shareholders?
You just have to love such transparency!
Does he get all of the success fee once the deal completes yet the Company only receives 3m USD and the balance of the 16m USD is not paid until later!
Nothing mentioned about this at the AGM.
A shareholder turned up for the AGM but they were refused entry!
We were not provided with a list of all the questions that shareholders asked so we do not know whether the Board or not but feedback from members of the Shareholders Acton Group prove that the Board were rather selective in picking the questions to be answered!
If I were in charge of an AGM meeting then I would certainly not chose questions that reflect badly on the Board!
AGE
Cameroon!
Does anything ever get done quickly in Africa?
Victoria Oil & Gas as an example had to wait for ages to get approval from the Cameron Energy Minister!
The Government were entitled to take a 5% interest but as far as I know they never paid for it!
I think the comments about Africa that a wise man made are true but there are none so blind as those who will not see!
AGE
Nonetheless a deal is a deal and if TPDC fall short then the offer is rescinded.
AA - yes you are right. But until TPDC makes up their mind SCIR are not receiving any loan monies. WEN have made that very clear.
Once the buyers identity is clear then I agree that the monies will all be due (though not at all clear the government will pay out in a timely manner)
SCIR are liable for the cash calls until the deal completes. How will they pay these without the loan monies?
To be clear the pre emtion rights mean that TPDC have to match the agreement/deal that was arranged with Wentworth.
That deal was not relinquishment so why should Scir settle for less?
FFS don't you ever give it a break mrc ?
10 out of 10 for tenacity
No Steve - they take on future liabilities. If SCIR can’t pay the bills as they come due the. They forfeit their stake in the JV. Simple as that.
If the loan is not forthcoming soon then SCIR are in deep stook
If relinquished would we not be entitled to our expenditure to date refunded to us.
Interesting point anyway.
Merely an observation, friend!!
Actually if you think Zubairs end up with this then the chances are they get it from SCIR when they relinquish. TPDC just need to sit on their rights for a few months and watch SCIR default on the JV agreement. As I understand it the 25% would then be handed to ARA and AEX for nothing.
Ah the old personal attack and attempt at deflection mrc, very amateur if you don't mind me saying.
Always good to look towards the benefactor, the one that gains the most in these situations mrc and that would be the Zubairs based on the last RNS. 50% for a pittance, another 25% for even less, a gneiss piece of work if you can get it.
Oh dear Chris, you have definitely gone doo lally.
I seem to recall you posting constantly about how good it was that the Zubairs were involved in Ruvuma? You are all over the place.
Always good to look towards the benefactor, the one that gains the most in these situations.
You working for the Zubairs is at least after all a reasonable and possible scenario to your posting 127 post in 30 days for the last 2 years on a share that according to you, you have no financial interest in
Have a lovely evening now wont you Buddy (lol)
Lol, don’t see what benefit my posts are to Zubairs. What your friends on the BOD and at Gneiss have done could certainly be beneficial for them though!!!
I thought I was supposed to be former CEO Dan Maling? Or have you moved on from that delusion now?
Guess you thought wrong again then mrc, dropping in now and again seems reasonable, especially when you compare it to your 127 posts here in 30 days on a share you are not invest in.
Maybe you are working for the Zubair's Buddy?
Wrong again Chris. The price to Sell is still at an all time low. They have just moved the price to buy a little higher. Only the sell price matters if you are a long term holder.
Oh wait I forgot you sold? I thought it was a big no-no posting on a share you don’t own??
Just a huge spread as when you posted "huge drop" on Monday mrc and it went down 17.5% but guess this time it does not support your way of thinking?
The SP hasn’t really moved 17%
Just a horrendous spread.
but still need about 00 at the end to getting and closer to getting my investment back.