RE: Results14 Jan 2015 12:08
Micheboo, there is down and then there's OPAY. I told you before, wake up! If OPAY admits the fact that these shares were sold the market might trust what they have to say. Margin call on Quindell was 80%
Quindell stated the following: "If, prior to the maturity date, the value of the transferred shares falls to 80 per cent. or less of the value at which they were transferred to EFH, being 67 per cent. of the three-day average market value at the time when the relevant transfer was made,"
Assuming the same contract was drawn up for OPAY,
Price of purchase at OPAY was approx 373 so margin call would come in (assuming 3 day average = 373) at 200p
If this was not the same contract signed from EFH to OPAY, then what did the contract state? Why has this information not be detailed in an RNS? Where is the transparency?
You can guarantee that there will be a margin call at some point because EFH will cover themselves from SP drops below their "asset" value". What happens if the directors do not submit to the margin call?
If someone here can answer these simple questions then i will stand down and accept that this is a good share to invest in.