Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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But if xel owns XER then the XER company is an asset for sale surely and worth something? Surely the sale of XER would if anything left over go to shareholders? What's XER worth?
You & most here Bluedays... Why did CEO ask for these shares to be suspended...as usual with Cole more questions than answers Proactive Whilst the company noted that the bondholders and the proposed liquidator have confirmed that the London listed Plc won’t be subject to an enforcement action, the company’s directors have requested an immediate suspension to the trading of its shares.
Sorry I'm not understanding this xer bit. If xel owns xer but xer is going to remain a going concern surely as a xel shareholder I would own a % of xer? I can't get my head around it. If it's a xel asset surely it would get sold as xel is liquidated??
Lets hope OGA finds a reason to revoke the licenses. Our money has long gone. Would be nice to derail the BH's & our great leader.
The wording of the 2nd RNS was At the request of the company trading on AIM for the under-mentioned securities has been temporarily suspended from 25/10/2016 12:45pm, pending clarification of the Company's financial position. So, What if the stumbling block wasn't the % of shares but the additional 10mill, so they suspend XEL while they look to other companies to fund this ie phone statoil and say do you fancy paying 10mill for x% of Bentley
Don't know about Legends. I'm off to Botswana in the morning to contract rabies. Then It's straight to Guilford on my return.
They would have to be careful what they do to XER as this could have an effect on the licenses, for example if it stopped working as a company then the licenses could be revoked and then the games over for everyone including the staff and Bond Holders
... done anything?..........nowt on the news.
Given that Xel and by definition its shareholders own XER I can't quite see how XER can be unaffected by liquidation of XEL - Perhaps I am missing something If anyone can enlighten me I should be grateful
Why suspend the shares when they think it's unlikely to return any value to shareholders and stopping the shareholders from getting anything back, unless they have another card to play that will give value to shareholders ? From the RNS On the basis of advice received by the Company and the directors, the directors believe that liquidation is unlikely to result in the return of any value to the Company's existing shareholders. As a consequence, the Directors have requested the immediate suspension of the trading on AIM of the ordinary shares in the Company. The principal Bondholders and the proposed liquidator have confirmed that Xcite Energy Resources Plc ("XER") and its assets are not expected to be the subject of enforcement action and XER is expected to remain a going concern throughout this process.
They are normally used to try and stop a low ball hostile takeover effectively a poison pill.
Its a vehicle that the fraudulent Rupert wanted to be 'Kept' as a Clean vehicle...he has his wish & its appears to be a party that the shareholders are no longer welcome...golden ticket holders only.
This xer set up seems very odd? It's not the norm is it?
Just checked the website and it still says there are 17 people working for XER. http://www.xcite-energy.com/about-xel/xcite's-history Last updated 23rd March 2016
Yes XER is 100% owned by XEL unless they have recently changed it but not told the market, I also think the staff are paid via XER so they will continue to get paid ...
Thanks cat.... it's almost like all those years ago (when the company was incorporated) they structured it in a way which would allow them to hand over the asset to who ever they wanted to...
Are you telepathic ?
I should call you a muppet but you were pretty shrewd
Your a muppet !!
IMO the BH's are in a race against time they need to sell now - if they don't the license will be pulled, IMO who ever buys this will have to demonstrate that they have the funds to get to production otherwise the license will be snatched. In other words huge discount- also any buyer will ask for a purchase based on renewal of licence
Blaze free zone it seems.
yes 6yrs why was this created?
'....Keep an eye on the six o'clock news. I'm going down in a blaze of glory.' ...afor ye go..
I think XER is totally owned by XEL -ceiling cat is probable best person to confirm or otherwise
You invested here ?