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Did Malcy mention R Trice and his what was it 26M shares, surely he hasn't sold and we could do with the support, anyone care to drop Mr Trice an email and ask.
Richard - It might be a good idea for you to post on (Twitter for example) a clear explanation and time frame of what us share holders can do to help you / us win the vote and thwart the 'Restructuring Plan'.
That's if you or anyone from CA reads the BB.
Best wishes and good luck: Albie
"Chairman whose now been in place for more than 3 years, and successfully taken the HUR SP from 60p to ~1.5p in his wonderful tenure but no resignation or pay cuts as yet!"
That can all come later, we need to win that vote first.
adoubleuk - The reason I feel Kerogen will not support CA / share holders is I suspect even this let's face it hopeless BOD in the main would not have forged ahead with share holder destruction and handing it over to Bond Holders knowing they were going to lose any approval vote guaranteed in the future (around about now).
I could of course be completely wrong in my thinking on this but I strongly suspect not.
We need ALL share holders to reject these proposals and NOT sit on their hands and leave the voting to others, we need all the votes we can get, especially after deducting Kerogens 16%.
"Both CA and Kerogen can already block approval of the restructure as between them they can prevent the 75% threshold being reached."
True, CA and Kerogen together have 30% and could block, I wouldn't assume for one second Kerogen are on 'our side' though.
CA up their holding soon.
I'm at the stage now were our RNS's are so damagingly worded that I'm beginning to wonder if the Kremlin has written them under a cyber attack!
Yes one could quite easily imagine a situation where they (Kerogen) will use their 16% to vote for the restructuring and are also proxi Bond Holders. Why else would they continue to hold and not kick up a storm?
CA are publicly outraged why not Kerogen?
Kerogen Capital get their own special mention:
" Kerogen Capital therefore currently has no board representation, though it retains the right to appoint a director under the relationship deed signed in 2016 and remains a significant shareholder at the date of this report."
Mm.
"If the proposed restructuring is approved and implemented, we will focus our efforts on maximising Lancaster cash flows to pay down debt, as well as making the case for further development of our West of Shetland asset base"
What are these people on, they paint the bleakest of possible pictures then come out with the above, UNBELIEVABLE!
In other words ----- WE'RE BEING FLOGGED OFF ON THE CHEAP---
The way the company has conducted itself purportedly in the best interests of its share holders!
Or are they (kerogen) keeping their shares to vote against CA and pi's
Is that what indeed is happening?
"They are in cohorts with Chinese Bondholders :) Ask Mr Cheng from Kerogen!"
If that's the case then are we going to see Kerogen now selling down their holding?
Designed to scupper any share holder value or sustained sp rise and succeeding beautifully, time they went imo.
Tuxedo8 / Everyone - How do you think Kerogen will vote?
"The problem is that the "post-Trice board" have made no attempt to resolve them.
Instead they rolled over, let their belly be tickled by the bond holders who want full control."
Nail hit on the head squarely with a big hammer there haggis_trap.
The unknown part Kerogen play in this concerns me, are they loyal shareholders or Bond Holders / indirect Bond Holders playing a blinder from their perspective?
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Did come up in proceedings re a success fee for an advisor. I believe this to be Evercore, one of the many. Seems they are on a £100,000 monthly retainer and get a £1.2m success fee (offset against £300,000 for first 3 months work) if this goes through..so they get £900000 extra if they go this trough on top of £6-700,000 already pocketed.
What a job they’ve done..disarray after trying to unlawfully disenfranchise shareholders.
Keepwell - No need to thank me, I'm just copying and pasting what's being posted on the ADVFN for all to see.
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Company plans upside down ..