Member Info for Bebeto

There's loads of risk left, it's an unfinished under funded project.

There's several possible outcomes hence the SP.

This share was on the course to default /administration from February.

I don't know about being scammed unless someone encouraged you to buy.

I think a real possibility is a deal with the creditors, whether a restructure or sale, and them receiving royalty payments.

Where would that leave IOG shareholders, if an AIM cash shell did a reverse takeover of a IOG subsidiary company including the assets.

The directors are in both. She'll could potentially raise the necessary additional funds.

There's the potential for the assets to become part of a RTO and back onto the market. Which would be quicker than a reapply to the market.

The RNS is pretty clear everything is still on the table via the administrators

The Joint Administrators are now evaluating the Company's position and are engaged in discussions with its senior secured bondholders and other creditors to consider all available options,

LOG being a creditor and a shareholder

including a potential restructuring to protect the operating subsidiaries which are not in administration.

The above part of the passage, sounds like it's what the IOG management would like.

I'm not convinced it's going to happen, I suspect an asset sale to SoCal or a small producer.

The assets are still going to require $m spent.

Justice2u,

Yes, if the company does restructure and / or becomes solvent again. They could reapply to become listed again on AIM or another stock exchange.

For IOG plc shareholders the extent of recovery value would depend on the terms of restructuring and the company's overall financial health.

The Administrators are in control now, considering the debt size I doubt they'll be authorising high directors salaries.

The administrator takes on a primary role in overseeing the company's operations, making financial decisions, and determining the best course of action to maximize value for creditors.

The ultimate goal of the administrator is to either help the company return to solvency through a restructuring process, sell its assets to repay creditors, or, if necessary, oversee the orderly winding down of the company's operations.

The company brought in Smith Square Partners to advise them on the situation, if the professionals can't come up with a solution, what chance has anyone else.

The Bondholders are bondholders essentially for a return on their investment, they never intended to own a piece of the Company.

It's down to the administrator now to either restructure or asset sale.

The talks with bondholders and the company are on going, the company has said its not found a viable solution that provide a return for shareholders.

I doubt anyone can and certainly not a random poster on a share BB.

2phevs, I certainly don't think you could make a career on stage as a mind reader perhaps just stick to being a clown.

I do however detest rampers who feed off innocent investors encouraging them to buy into the dross of AIM shares, whilst they muti-bag leaving others to hold the baby.

There's nothing I've said here to encourage people to buy but somehow, you think I should be investigated and I'm reveling in other people's misery.

Get a life

LOL I comment on random shares knowing clowns like you go fishing for an angle. The joke is on you there :)

2phevs no one cares what shares you hold period.

This isn't my first rodeo, I've was talking this share down for months and I'm astonished how people chose to keep holding and buying it.

But tbh if it wasn't this share that caught you it would have been just a matter of time before one did.

If you're going to bottom fish with rampers you will end up being sucked down the plug hole.

Shares like this is not investing just gambling.

The administrator's primary responsibility is to act in the best interests of the creditors.

Paying NOMAD fees for a suspended share is a total waste of resources and knowing the administrator wouldn't agree to pay, they both resigned immediately as administration was announced.

The share is suspended for not publishing interims. They have said they won't publish them.

Therefore employing a NOMAD is a ridiculous idea in this situation and I don't believe one would actually take up an offer.

And there's me thinking I was being helpful lol

Karma has caught up with people like 2phevs and that's not a bad thing in my book.

H1 & H2 didn't default on the repayments but IOG plc did.

The default is what has caused the Administration.

Snooze the asset security is not the same as the asset making the repayments. That's down to the issuer.

Poorinvester, as far as how the company is structured, it's legitimate.

The actions of the Bod and they were also operator, that area could be looked into, for sure.

Blood ninja, it's down to the administrator now to get the best deal possible.

Creditors are a higher priority claimant than shareholders. We don't know what the Bondholders opinion is regarding any deal, they might not have any confidence in the management and would prefer another operator for instance.

It's not all lost, we just don't know at this time.

Blood ninja, IOG plc holds shares in the subsidiaries yes but IOG plc shareholders do not.

Now after restructuring or asset sales of subsidiaries, if all the creditors are paid off, then any residual money left over can be paid to shareholders of IOG plc.

IOG plc were using it's subsidiaries as a revenue vehicle to make the bond repayments that were owed by IOG plc.

Unfortunately, the subsidiaries couldn't make enough revenue causing IOG plc to default and go into administration.

The bonds were issued by IOG plc, the bond debt is with IOG plc.

There is no bond debt attributed with IOG plc subsidiaries, therefore the subsidiaries are not going into administration.