Member Info for Bebeto

If they do sort the funding situation out, I will buy in but not beforehand.

They're under the 5% threshold for foreign investors and don't need to notify again.

TR-1: Standard form for notification of major holdings

Self explanatory really

It couldn't just have been " panicky investors and mms took the route of killing the SP"

Because we had a TR1 as FMR had sold down/out.

The clearest indicator for shareholders, is to see what major shareholders do, one has bailed but it's what the rest of them do from now on.

Anyone who was a shareholder before last Monday, should already know the current share price has to regain over 500% to get back to last Friday's price.

The major shareholders will definitely know, so their reactions are crucial in this situation.

Perhaps the company should have just waited 4 days instead of producing their RNS on the 2nd?

Oh yeah, where's the RNS for that? On 2nd October the company couldn't even put a figure on the RNS but 4 days later you're claiming a deal is done and you can also say the figure.. Truly amazing!!!

I'm just explaining my view on why this has dropped 84% in value, if you want to believe there's a quick $60 - $80m fix that's up to you but the market doesn't think so.

The company isn't currently able to say how much extra funding it needs, the assets already have secured debt therefore only unsecured debt is available which means it will come at a discount to the current share price.

It's a complex puzzle the company will have to negotiate, which takes time to resolve.

I doubt they'll be a quick fix to the situation therefore, it's mainly traders trading as investors should be reluctant due to the company's risk factor.

It's just traders trading this now until news.

75% of AIM investors lose money the market decides the share price and it's rare that it's wrong.

If you think the company isn't in financial difficulty and it's going to be an easy fix, the market doesn't believe so.

Adjust your positions accordingly.

Doesn't look like an asset sale is possible due to secured debt Equity raise most likely option.

There's no harm in trying, it's just a shame so many investors couldn't see what the rest of the market could forsee.

HZM looks to be going the same way unless it can sort out its financial situation.

I was sent this insert regarding the $50m

The revised estimate for the capital cost of the project has increased by a minimum of 35% against a capex budget of $537 million. 35% of $537 million is $188 million and hence that’s the cost overrun and that’s the minimum equity that shareholders now need to contribute.

If you read the comments online, retail shareholders have repeatedly claimed that the additional funding is a trivial amount of about $50 million.

They think this because the interim accounts state that Horizonte has “liquidity” of $344 million. That *was* correct but the liquidity calculation assumed that the senior bank facility could be fully drawn. I’ve copied above the circumstances when the senior bank facility can’t be drawn and a $188 million cost overrun is one of those pesky “circumstances”! The banks will not let Horizonte draw down on the senior debt facility until Horizonte have raised at least $188m of equity to plug the gap.

It doesn't sound good around $200m raised from most likely discounted placing (if it's even possible)

Odds on this company is going to fail.

Looks like the Company has maxed out their credit cards before making a big purchase and now looking for another credit line on potential future revenues that might not happen.

Worst case is they can't get an agreement and they suspend trapping in investors before going into administration.

Sounds familiar? They just did it with IOG, shareholders already told they will get no return.

The next TR1 will be the one to watch for.

Too early to predict at the moment but shareholders here do look doomed!!!

Until funding news