Member Info for Arsenal221

I would also say that a Defence has been filed with the court & a reasonable chance that it was, just to give a bit more time for it to be SOOC.

Thanks

The above has his last 2 posts under heading Speculation
On mobile, so can somebody copy & paste on here.

garytrader post

Just to add to this I’ve had a chat with yellow jersey which also confirms the company will RNS anything significant without a nomad.

He also said that there were issues with Cairn going back several months. - frontera were not happy with him.

Read the Rns

I have always thought that the claim & the Default are interlinked, so on it being the case that the two have been joined up as one case does not surprise me.

On the above then would have thought that will help Frr come through this on a settlement or if needed winning the case.

Lets hope on something positive being released either tomorrow or next week.

On that Frr not being happy with the Nomad would think a big part of that must be concerning Hope being in contact with him while on BOD.

The 500M shares was what Hope thought he would get when Outrider did not receive the $2M.
Think above is what it is about.

Would be great if you have anymore thoughts on the situation Frr are in at the moment.

Jaytee41 - also worth remembering that Hope or OMF do not currently hold any shares in FRR; they sold the lot back in 2012 if memory serves me right [around 130M at 1.10p?]. No, what we are saying here is that Hope was expecting to receive 500m shares (250M a piece from Zaza SN) in lieu of the cash payment due on the Notes, which was secured by both Directors giving their personal g’tees and shares as collateral. But after the due date passed [end of Sept], he was certain that: 1) FRR did not have US$2M in cash to pay, and 2) Both Zaza and SN would cough up to honour their g’tees. So, in anticipation, he started selling from early Oct. Under these circumstances, i believe an RNS would only be issued when the shares were transferred to Hope and another RNS when had Hope had sold these [all forming part of Director Dealings].

That’s my thinking.

Generally that is how I see it on that Frr Obviously would prefer going for a reduction in the L/Notes, but the main thing for Frr, is that they can kick Hope off the BOD & get rid of Outrider. Even if it means paying off the full amount.

On Frr believing that they will come through this, as that is fairly clear then they would likely want on at least having the amount reduced.
Would hope they have read this right, but would also seriously hope that they would be able to pay off the full amount of the L/Notes, if needed via the $60M loan.

On Frr to de-list then I think they have 5/6 full months to still get a Nomad & apply to re-list.
So on Frr coming through this with the Georgian asset in tacked then should not be a problem on re-listing.

Did say at least 50% & also if paying interest on any remainder then it is at a reasonable looking interest, as far as Frr are concerned.
As the main thing is that Frr keep hold of the .massive asset.
As usual though a wait & see.

On there being an OOCS I would be ok with Frr paying off at least 50% of the L/Notes via the $60M funding, kicking Hope off the BOD & a reasonable looking rate of interest paid on the remaining L/Notes.
On it going along those lines or close to it then Frr would at last start to properly move forward.

I also think that Frr to be in this position when having a top class asset, is crap.
Will add though that still believe that Frr will come out the other end with a bright future.
Enjoy

Sorry Coggy
Mobile spelling changed it.

Doggy
I am feeling along the same line.
At the moment let's hope on dealing with Hope & have new Nomad, signed up.
Let's have all holders have a great New Year.

On a one of the above on the damages claim that would include the Default notice being discharged otherwise would be no point in Frr going that way.
On Frr going ahead with the claim, also winning it that would make me think that would null & void the Defaul, as they are interlinked.
As usual a wait & see.

One thing is that if he has filed a Defense it does not mean that it is a strong one, as has been mentioned it might be to give more time or just hope on a lucky throw of the dice.