Member Info for B-2-0

Hi Looed, I appreciate the response and understand the context in relation to TXN and any funding or investments. Many thanks as always B20

Hi Looed, thanks for checking in and letting us know about any relative developments. I appreciate the ongoing commitment when for all intents and purposes the legacy FRC holding company dissolution had run its course. Could I please ask if given the Steve Nicandros open lett to congress sometime ago in which he mentioned the $100m investment in Georgia, whether that strategic investment is indeed part of further US strategic investment in Georgia, or has that investment already started to crystalise . I appreciate there may well be NDA of sorts - or indeed you may not have the continued connection with TXN. Nonetheless as always I am very appreciate of all you have done many thanks B@0

Hi Looed, thank you for your continued support. I have received the final report and review it, and it is as expected in relation to the specifics of the FRC dissolution and the resultant legal requirements. As the weeks progress I would appreciate it if you kept us informed with respect to the matters you referenced in your 07/02 comment and any other developments which may equally be of interest. many thanks again B20

Hi Looed thank you for your update last week. As for the post by Phil, I concur there is absolutely no merit in his posts, they only pick up on posts made by others and references them by packaging them into his usual ‘collective action’ mantra, this time though at least he has refrained from accusing SN, SH, Litigators, liquidators and govts of perpetrating unlawful practices. Now he is seeking action against the Nomad, and of course SN being complicit. Needless to say, his ulterior motives are as clear as daylight B20

Phil,

By your own admission and I quote “I don't and can't accuse anyone of crimes as I don't know what they are (apart from ZM of course we know what he did)” you have admitted that all your accusations against SN, SH, Looed, and teams of litigators being complicit in relation to misconduct at best, and unlawful actions at worst are invalidated. The demands made of bona fide investors to take action on what you have now admitted was unfounded grounds is questionable.

If indeed you are a bona fide investor as you say you are, and indeed should you unearth defensible evidence to support a claim, not based on unfounded accusations, then investors may start to reconsider the purpose of your actions. B20

Phil, once again you contort the truth to serve your own purposes, I have been a longterm holder for over 10 years, unlike yourself who joined after the company delisted which calls into question whether you are indeed an investor or perhaps someone who wants to publish a ‘story’ , demanding others provide you with ‘dirt’ by inciting distrust and implied violation of the law as I have explained in my comments below. You say you are not out to have a go at anyone, yet you openly accuse SN, SH and various other bodies of crimes as per my comments below - yet you are not having a go at them, you merely pointing out things that can be seen. Once again you provide no evidence. I will leave it up to the bona fide investors on this board who have a vested interest in the events taking place to determine who to trust and who not to.

Phil, i have to question your motive for posting your consistent rants of anger accusing SN, SH, Looed, Georgian govt, US ministers and equally by inference the liquidators and entire litigation teams of a range of crimes ranging from fraud, theft etc. yet at no point have you ever presented evidence to support a case, nor have you ever communicated that you have engaged with litigators or even offered to be the spokes person for FRR, yet you attempt to rally a posse to pursue SN and anyone associated with his crimes, but not once have you pursued any of your attempts.

And the more you post such consistently useless tirades the more obvious it becomes that you have no intention of genuinely adding any value to any of the cases you have presented but rather to act as an instigator of anger to serve your own purpose.

Many thanks for t he informative update Looed and keeping us in the loop. I have requested the final report from my nominee but they have not come back yet - has it been provided yet. Many thanks for continuing to keep us updated, B20

Phil, i have to question your motive for posting your consistent rants of anger accusing SN, SH, Looed, Georgian govt, US ministers and equally by inference the liquidators and entire litigation teams of a range of crimes ranging from fraud, theft etc. yet at no point have you ever presented evidence to support a case, nor have you ever communicated that you have engaged with litigators or even offered to be the spokes person for FRR, yet you attempt to rally a posse to pursue SN and anyone associated with his crimes, but not once have you pursued any of your attempts.

And the more you post such consistently useless tirades the more obvious it becomes that you have no intention of genuinely adding any value to any of the cases you have presented but rather to act as an instigator of anger to serve your own purpose.

B20

Thanks to Looed and the other genuine shareholders for their efforts.

I have yet to see the final report but expect to get access soon, although it may well be vanilla in its context. Although I understand the dissolution of FRC and that passage is closed, as it not unexpected in this nature of complex structuring in relation to international O&G projects, there does remain an number of possibilities which legally could well have transpired. I do not want to expound on those as they could be perceived as suggestive by bona fide shareholders and given the likes of characters like Phil who do not provide any value other than to sow unease without any premise or progress, I will await a final chapter closing the sequel pertaining to the remaining group entities outside the dissolved entity B20

Further to Looed comments, the open relationship SN established with Georgian govt was recognised by them as one of the reasons why they overturned their termination and allowing FRR to continue operating in Georgia. Equally the diplomacy efforts SN engaged in was also recognised as a major catalyst in ‘resurrecting the relationship’ with the Georgian govt. B20

Monti, I share your sentiments and equally believe SN has acted in good faith, despite the odds being stacked against the FRR family. That said your pivot away from FRC, the liquidated estate is sensible as it has been administratively dissolved. On the matter of the ‘art of the possible’ as you have alluded to, in the world of global corporate and financial project restructures there are legal mechanisms designed to enable corporate commercial success provided necessary legal constraints are adhered to. If at all any of these levers have been applied over the extended privatisation period remains to be seen. What’s done is done and indeed remains to be seen. B20

Many thanks for your response I am pleased you understood it and it is obvious as to the events having taken place. I believe that clarifies exactly where we are. B20

Judging by the various hypotheses having been expounded on this site, just short of writing to the prime minister demanding justice I am loath to share any additional insight, founded or unfounded. What I will say though is the events having taken place in the Cayman are not unusual, and in a number of complex cases expected. The dissolution of FRC is the final chapter in the liquidation procedure of that entity. What if anything happens going forward is completely separate to that entity as it has been dissolved. As Looed has stated the final report issuance is expected, besides that it remains to be seen if any additional sources of communication exist, but what is certain is FRC has been dissolved. B20

Txn is a completely separate legal entity, FRC has been administratively dissolved as of the 20th signed order, my understanding is the 14 days is from that date so circa 3rd Feb. Any comms that comes in the coming weeks either from the jol or if indeed another source it must remain legally compliant consistent with the entire strategic procedures which have taken place over the last few years. Whatever transpires going forward is legally separate to FRC holding company as it is officially dissolved. B20

Sorry on rereading, it should have read …on liquidation of frr holding company, not your company. Thanks

Thank you Looed for all you have done over the years, no doubt your efforts have been instrumental in supporting a positive outcome in some form. It appears though from your comms that unfortunately those efforts were not successful as you rightly point out this was a very risky venture and given the additional complexities the chances of success were minimal and and you rightly say ‘we can’t win them all’. Could I ask though that statement is in relation to your he holding company being liquidated which we know is in court order approval phase, however that does not apply to any other excluded companies such as frrus and txn. Any status on those remains undefined in terms of their future operations given they are outside the liquidation process many thanks once again for your exceptional insight on this journey B20

Lifeishard your instinct is valid, all the issues being discussed currently though are outside the cayman court procedure in relation to frr holding company. The lobbying, txn,vn, fb posts is all extraneous to the core legal and now court order outcome. Sn has a world class legal team as his counsel providing clear legislative guidance throughout the entire process as documented. We await the final court order and jol report. That will definitively determine whether we are on the train or not . Not long now,whichever way it goes gla b20

Hi looed, thanks tor the response and validation that txn is a separate vehicle, the intriguing fact is sn referencing ongoing engagement despite it being generalist in tone. I believe the message is positive given sn’s long standing operational relationship and trailblazer status in Georgia. There is justifiable cause for the lobby which I am sure has been vetted in its delivery. Sn is fighting a cause let’s see where this goes, interesting indeed gla b20

Hi Looed, thanks for the updates and the sleuths likewise. Interesting developments and it appears legally separate to frc and therefore outside the now finalised liquidation process. Most intriguing though is sn messaging of operational activity in Georgia which his validation to lobby with the us through txn. Let’s see what this week brings, interesting times ahead as clearly sn is fighting the cause which aligns somewhat with the new us approach of improving strategic relations with Georgia gla b20

Hi looked, thanks for this. Interesting development particularly the reference to being active in Georgia since 1997 and it looks like b12. I seem to recall an rto of frr us but I might be wrong. I guess the question is this b12 and it appears active from his statement, therefore it could be the new vehicle with an ownership structure of frr us, and is part of a plan to revive frr. I presume if true this will all be disclosed as part of Deloitte final report now the cayman courts are ruling or have ruled and we are awaiting final gazette news gla b20