Member Info for Bladesman

We ought not to be concerned about arcm participating in the RI as they are on record as stating the deal to be funded through the RI is bad for all stakeholders. So, they should not touch it with a barge pole should they. Unless of course they were not telling the truth to all and sundry, including the Court, in their submissions. Hmmm.

Thanks LL. Can anyone remind me the % share if any find that PMO has ?

I would have thought the outcome of today's meeting is priced in as its been clear for some time pmo had the votes in the bag. Consequently the
RI is priced in as this is part of the deal. What is not priced on is the value of the Zama sale over which there is some doubt due to possible legal issues over ownership, and of course the price of oil which is at a low point. Once poo picks up and we get news on zama then its all looking good.

Apols, please ignore the double negative in the first line. The second "not" unintended. Didn't want to upset the "grammer poleece"

I really do hope that arcm's delay in not closing out their short is not because they will, or expect, to pick up a big slice of shares from pmo in the upcoming rights issue in a placing . Now that would be ironic and an injustice, IMO.

I received this email from arcm this morning. Seems like the game is up for ARCM.
"M will vote against Premier Oil’s Scheme proposal at the creditors’ meetings today as it believes the proposed acquisitions expose the Company and its stakeholders to significant incremental risks. As a majority of creditors have already contractually locked themselves into voting in favour of the Scheme proposal, we would expect that the requisite majorities for the scheme vote will be obtained."

So, chaps, is the sp going to finish up or down at close on d day tomorrow? . If up, how much? Anyone like to chip in with their predictions? Mine, for what's its worth is up 1.5 %

Not much to discuss at the meeting other than record the acceptances which are already in. It's then off to court in March to bless the deal. Good bye ARCM and good riddance.

Reported after market close with 2m sold vs 4m bought. That's a vote of confidence for pmo's deal to be approved tomorrow and a poke in the eye for ARCM

Yes and poo looking better. I believe this will be a blue day on the eve of the creditors d day meeting. GLA.

Everyone needs to calm down, compared to "normal flu" , the corona virus is mild.....
"The World Health Organization estimates that worldwide, annual influenza epidemics result in about 3-5 million cases of severe illness and about 250,000 to 500,000 deaths. Its all Media hype- just something else to blame the foreigners for IMO

EC, I think you are bang on . Just want the virus scare to recede and poo to recover to $60 + , then were in lift off

I agree. Ever since Michael Fish got it badly wrong, every storm forecast has been overly exaggerated. Nothing compared to the storm to be faced by ARCM on their day of reckoning. " The" perfect" storm!

ps, and dont forget, by not disclosing their short, they were also keeping this info from their own investors .Now that is something very, very wrong. To put it mildly

I would be up for that although I suspect we might find huge legal hurdles to establish that we have a claim, unlike investors in any of ARCM's funds who may incur very large losses on their investments due to ARCM's negligence in not disclosing their short ( as they were required to do) and poor judgement in taking out in the first place

the correct word is "defrauded" investors and others

It is long recorded that Zama proceeds will pay off debt, and be used for nothing else

Given the huge (and admitted) undeclared record short by ARCM that has not only attracted huge publicity but undoubtedly distorted the market for pmo shares for such a prolonged period, it is absolutely inconceivable they will not find against them and impose a huge and record fine or other such significant penalty e.g. withdraw their license to trade in UK shares . The FCA must protect the rules of the market.

They said it was a "clerical error" not to declare . Hmmm, pull the other one !

Apols.... "Transformational" not transnational