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How is it that the court case is going to start before the creditor's meeting? I thought the court had to ratify the scheme of arrangement after it had been approved by creditors and shareholders meetings.
As part of yesterday's announcement it was stated that the BP acquisitions would be backdated to 1/1/19. Presumably this means that their results for the year just ended will be incorporated into the accounts due to be published on 5/3/20.
However the purchase is not due to be completed until late March at the earliest. Surely they cannot incorporate them until the deal is completed.
Thoughts please?
Thanks Lemarc.
Can someone remind me please how much of our debt is held by ARCM?
Lots of very informative posts in the last 24 hours. Keep up the good work please chaps!
You need to be careful with 88e it has a weird capital structure.
I think SK is very lonely. He spouts unreasoned stupidly provocative drivel just to get a reaction and encourage other posters to message him.
Thanks Jaffa
Let's hope you're right.
It would be great fun to watch them trying to close their shot positions in a rapidly rising market.
Hi NSTA and jaffa
Are you saying that there a call option or equivalent that cancels out the short?
If so does this mean that ARCM do not have to buy back the shares they have shorted on the open market?
Hi Jaffa
I do not understand. Could you explain please in simple terms.
Over 7% increase in SP yesterday combined with over 15,000,000 shares traded (biggest turnover this month).
Could this be the beginning of a welcome squeeze on ARCM?
Hi Fibo
I am not good at this but to be short would they not have to had bought put options?
Not saying you are wrong but would like to know your reasoning.
I think it is intrinsically wrong (although probably not unlawful) that ARCM are allowed to lend money to our company and then bet on its failure (I imagine the penalty fees if PMO were to default on its borrowings would be huge).
Thank goodness TD and his colleagues have managed PMO so well over the last couple of years.
Let's hope that our SP continues to rise as sharply as it has done over this week and that ARCM are badly damaged financially as a result.
Another entirely humourless post by SK.
Thanks Johnny.
Also good post today.
Hi Johnny
Is the 6th Dec the closing date for bids to be submitted?
Absolutely agree. The environmentalists have a point but he is either trying it on for the publicity or he is a loony or both. Hope it costs him but he might of course have a rich backer with another agenda.
I wonder if the reason Pmo are trying to sell their stake in Zama is in order to buy the 50% of Tolmount which is up for sale?
Should be tomorrow.
When I told SK couple of days ago most of his posts were inane drivel he told that he was 'breaking the mould' and 'that I didn't understand'. Please add delusional to my previous comments.