Member Info for CF73

From previous news and Proactive Interviews, think we have the following news due soon(ish):

1. Amended timetable

2. Shareholders Agreement Terms Sheet

With No.1, this confirms the newer timetable (apparently being reviewed by EDM at this minute - clues in the news article as to why). The delays around this are minimal and is contextualised by the article posted here recently. In theory we should get this next.

With No.2, this is where the equity stakes are confirmed (at least for the moment), along with the responsbilities each party will have therein (ie. raising funds etc). When last news, they said this was due '...coming weeks'. We have adged closer to this now.

There is a lot going on here, more than meets the eye, in my view. That earlier article points to the dead-seriousness of energy and projects to support with this in Moz. The PM has reaffirmed the massive importance of energy electricity, of projects (alluding to large scale infrastucture ones). This delay doesn't feel like a delay, in the normal sense, not to me anyway. Feels like a readying for something big to happen.

Watch this space, is what I say.

Seingred, very possible that ZM didn't feel it would evolve into this. He did say (and I paraphrase someone else's paraphrasing), that GG were using a sledgehammer to crack a nut. We got to member what's been coming at FRR: one side, GG, with state attempts to misappropriate; at other end, Hope, TW, YA and dirty naked shorting, and even StarRage wading in. Perhaps not a excuse (or at least a good enough one), but we seem to still be in the fight and by now holding our own.

Looed, thanks for that. That's extremely helpful. Keep up the great work!

Seingred, have ticked up your post as in principle I agree with what you say.

While it seems easy for the US to enter into these things at the drop of a hat, it is more to do who and where. Iraq, Libya, Venezuela etc are far more easily interfered with than Gerogia. Gerogia history and geopolitics makes intervening much harder for the US.

I say this as someone generally not at all pleased with US foreign policy, and as someone who is a one-time international relations student. Have said previously, if I knew geopolitics were going to come into this, to this degree, including relying on the US political establishment, I wouldn't have touched this. But am confident, that for once, through FRR, we are on the right side.

Can imagine that FRR presented the findings of the Arbi to US politicians. That would have been the final straw for the US establishment.

"Paying 200,000 gel ???mineral tax, of something."

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Could easily be as feeble as that. GGs claims have been flimsy. They wanted to misappropriate this asset. Really do believe that when ZM talked about 'the truth', he meant it. The case we have was so clear cut that when the plain facts were presented to those US politicians, it was too easy for them to step forward in support.

Is worth adding, FRR cannot meet GG until the spectre of those as-yet-to-be-determined conditions has been removed. They need to arrive to that meeting an established, definitive agenda, and, if all goes well, then release Joint Statement settling the matter.

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Zaza - They try to present it as 99%, but it is unclear how they report it or where it comes from. Anyway, all the areas where we are not doing this work, about 1 month ago, maybe more, 1.5 months ago, we have already returned to the state.

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There are only two claims that went against FRR. One is the above, which has been addressed and well in good time. We have to remember, the Arbi judgement is final. I do not think for a second that there is sufficient ambiguity as to leave the context of that 99% (i.e. 99% of what and where??) in doubt in the execution of the instructions handed out to the Parties.

FRR, with the support of the US and the domestic media, has shifted the discussion/ argument along materially. We have made progress. But GG are still trying it on. If they had been right firm the beginning, they would not have budged - but they have and are trying to save face, continually, especially with elections fast approaching.

jdt, this piece of new puts a hell of a lot into context for me. I can see where we are going from here, with the new timetable, I feel strongly, now the one to look out for.

All of it absolutely on and not far off from here either. Am excited again!

This is what I needed to know. They are redoubling their efforts around electricity and energy energy and provision. They are looking to maintain strong relationships and partenrships, seen as key mobilising finance to make things happen. The are looking to serve not only Moz but wider, including SADC - only possible if they have project like Ncondezi (the most advanced key large project of its kind in Moz).

This article epxlains a lot for me.

Godo luck folks!

Also,

"Implementing these and other structuring projects will require from the new chairperson and from all EDM workers redoubled commitment" said PM Rosario."

And;

"Prime Minister said that Alberto [new Chair EDM Board] should [...] maintain a good relationship with the [EDMs] strategic partners. Rosario said this would help mobilise finance and investments for the company's key projects"

And when combined with;

"Implementing these and other structuring projects will require from the new chairperson and from all EDM workers redoubled commitment", said Rosario. He urged the company's new governing team to prioritise participatory and inclusive management, and to strengthen the partnerships between EDM and the other stakeholders who act in the Mozambican electricity sector."

"[...] maintain a good relationship with the company's strategic partners. Rosario said this would help mobilise finance and investments for the company's key projects.

"Also critical for the future, he added, was the development of electricity interconnections with the neighbouring countries in the framework of the Southern African Power Pool (SAPP). The regional initiative, Rosario added, will ensure that Mozambique plays a prominent role in the energy sector of SADC (Southern African Development Community)."

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This is 25th June, literally days ago, and is all I needed to know in terms of Moz needs and ambitions, right from the PMs mouth.

"Mozambique: PM Calls for Implementation of Key Electricity Projects"
25th June 2020

https://allafrica.com/stories/202006250879.html

[...]

"Implementing these and other structuring projects will require from the new chairperson and from all EDM workers redoubled commitment", said Rosario. He urged the company's new governing team to prioritise participatory and inclusive management, and to strengthen the partnerships between EDM and the other stakeholders who act in the Mozambican electricity sector.

The Prime Minister said that Alberto should also prioritise continual improvement in the provision of good quality service to the consumers, and to maintain a good relationship with the company's strategic partners. Rosario said this would help mobilise finance and investments for the company's key projects.

Also critical for the future, he added, was the development of electricity interconnections with the neighbouring countries in the framework of the Southern African Power Pool (SAPP). The regional initiative, Rosario added, will ensure that Mozambique plays a prominent role in the energy sector of SADC (Southern African Development Community)."

Looed, am supportive of working directly with the Translator and trust your judgement on this.

Needless to say, am going with Gipps on this.

I don't want to drag this out but you say are more optimistic than in a long while but simultaneously down play everything.

Regarding arbitration document, you say

"If someone does publish it his house of cards may tumble...".

However, earlier in the same post, say that

"But I read through the arbitration ruling, unlike many on here. Believe it is genuine."

If you believe the leaked arbitration document is genuine, why hasn't the house of cards tumbled?

There will befall sorts of complexities involved in the body detail of the Doc. Certainly FRR will be under NDAs meaning they won't want to publish it. And there's the matter of the other court case(s). But for now, am interested in the judgement and the instructions to the respective parties. In the context of GG and what they are able to do, most of those pages are now irrelevant.

In order to get very strong US support, it needed to be very clear that we were in the right and that GG were attempting to misappropriate the asset (or at least the 1%). This is what ZM meant by the 'the truth'.

Has been obvious to me for a while, GG were behaving unfairly if not unjustly. This doesn't mean the fight would be easy. But if you got truth on your side, you will always be more convincing that you are in the right. GG have come across as rank amateurs. Really has blown up in their faces

ODR, what's happened to you??!

This is what we know for sure:

- GG were adamant they were taking the lot, after saying we were meant returning that 99%

- FRR kicked off, getting the U.S. political establishment involved...

- GG now admit that 99% has been returned, changing their tune in the process, saying that FRR can carry on working on their 1% but that they want meet to negotiate over certain conditions

- FRR not prepared to meet to negotiate any conditions, that they have a right to operate as per the contract.

Which bit is difficult to believe?

It's there in print.

Soss, am in agreement with Chris here - talking of shareholders would look like foreign corporate entires behaving like vultures, siphoning resources away from the people.

Thanks again Looed; you been doing phenomenal.

It appears that a meeting will take place and that ZM is ensuring the meeting takes place soon and under the appropriate terms and conditions.

Just to reiterate a personal point, the below:

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"That American companies are not allowed to operate in a normal environment in Georgia…"

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This sums what I’ve been feeling. FRR has not been allowed to operate freely (as, in the context of their contract, in the role of any company trying to carry out their work).

At our lows, it will have been easy to think we might have been equally culpable, perhaps even more so. In a climate where FRR have not been able to communicate openly, we have been left to face what everyone else says. It has been easy for GG and TW et al to say whatever they like and for it to seemingly stick.

There are questions for FRR to answer, including not communicating the extent of the issues regarding Arbitration. But that is not the same as the corruption of the GG. There are also questions around how news Arbitration got out to TW et al. But am of the opinion that FRR have carried out their duties and responsibilities in Georgia as well as any company could have. The claims and arguments them are manufactured. Whatever details in the body of the (real) Arbi Doc, in the end, it was the conclusion that mattered and the instructions to the respective parties. By the time of those conclusions and instructions, ‘the judgement’, the mass of detail in the body of the Arbi Doc are more less irrelevant in the context of the argument between GG and FRR (though they may have value to Hope etc).

We should be increasingly confident that that Arbitration let us keep the c.1%. And that FRR were asked to give up the c.99% and that we have done this already. GG admitting we have returned it is a big step in itself.

Has been difficult to remain positive, to retain hope. But have felt for a long time that we have not been the bad guys, and is interesting how ZM talks about the truth,

“…but if you don't have the truth, which you have to deliver it to the right place and at the right time…”

In our case, it has needed the truth to wield the power - it doesn't happen like this always.

Fingers crossed this continues to move in the right direction and as quickly as possible.

Mole, thanks for your comments. I do agree a little bit of moderation is required...Is just that I can't help myself...

What i would say, more seriously, is that we been up against for so long that we struggle to entertain the idea of natural justice weaving it's course.

So far, certainly I can work out that the Arbi required return of 99%: which has been done. And then some other garbled complaint about the plight employees: easily resolved.

Keep being told by some not to count arr chickens but this is looking increasingly better.

Good luck to all the genuine folks and holders!