Member Info for CStallion

GCM also don't want to enlarge the shares in issue by the Polo loan, as there are still deliverables to DG & Dyani, which are percentage based payments. I believe, DG are entitled to 15% for their deliverables & Dyani 10% for their remainine elements.

A larger pot give DG & Dyani a larger slice

Just topped up with end of year bonus, was hoping the recent lows would of lasted a few more days.

Looking forward to the tough mudder scramble over the next few months

Polo conversion is fixed at 5.14p. GCM don't want polo to convert as the other DG & Dyani percentage incentivised deliverables will go up & further dilute.

02/03/2022

Loan Facility Amendment

The Company has, as part of the proposed subscription, agreed to amend the terms of the loan facility provided by Polo Resources Limited (the "Facility") of which, as announced on 26 March 2021, there is £300,000 of the initial £3.5 million facility remaining undrawn. The lender may request conversion by the issuance of new ordinary shares in the Company at 5.14 pence per share (being the Issue Price) subject to any necessary regulatory approvals. All other terms of the agreement remain unchanged.

Read the RNS of the 26/03/2021 also.

The Company may elect to repay all or part of the outstanding loan at any time giving 60 days' notice and with the agreement of Polo Resources Limited.

At my estimate, this is worth apprx 140m shares

Might be coincidence, but it's exactly 5 years since they delisted.

I'm sure I read a 5 year rule somewhere once upon a time.

I'm also with II, not a massive holding, but will do me at anything above £1

Not sure i'm keen on the fact it tells you when you buy & sell though.

GP you been buting every day, apparently

The Phulbari.org website, if you use a domain checker service, show the domain created 1 month (Jan 2019) prior to Digitless LSE account (Feb 2019).

We've had several false websites set up to "Pump" GCM over the years

Also ties in with the 26th March 2021 RNS that says Polo won't call in the loan for 5 years from when the initial loan facility was set up. I think March 2020 Ish...

If we are being bought out, would Polo want their loan converted to shares & not repaid???

Polo are due approx 130,000,000 shares if they convert the loan. These are on top of the approx. 43,000,000 they currently have.

They won't walk away.

Either bought out & a large share divided coming to all share holders. Or remain as a small invested party & regular dividends during the project.

Yes although delisted, we should still be entitled to dividends, but not regular financial updates.

I think the conversion of shares is being held off so the other percentage awards for milestones are less dilute.

Everyones been here so long they can remember VE day first time around.

Time to commemorate.

Easter Bank holidays Friday & Monday

How about if it was found under the Coal?

Lets take our slice first...

That is for current share capital, but don't forget the convertable loan, which is spent & is shares waiting to be converted. Currently @ £3.2m (excluding interest) @ 5.14p = 62m shares. Allowing for inflation, I can see this reaching 100m shares easily in the coming years.

Polo / Tang will never convert the loan until DG Infratec & Dyani's percentage deliverables targets are reached, as this would only give them a biggerslice.

I hope my Polo shares will come back to life one day... :-(

Why would china service their debt when they can swoop in & take the project for themselves.

Bangladesh have to push PC to develop as they don't have the cash they expected.

You need to look into this even more doze, there are still a lot of shares to be issued to DG & Dyaini for the outstanding deliverables & monthly retainers. I reckon 80m to 90m, prior to Polo wanting to convert.

If you look in note 5 of the interim results (im sure it's also in the full results) it tells us excatly where the loan is in terms of borrowed & interest currently incurred.

Personally, I think this is Tang's protection, from any hostile take over or other such manovers. I think Tang knows this & had to take Polo private to stop outside infulence on his thought process for Polo loan facility. Currently Polo can't ask for the share s it would push them over the 30%, which is an automatic AIM rule take over lilmit, Also the higher no of shares in issue the higher share payments goes to DG & Diani, who are on share issued % payments for milestones achieved.

But I think you are right, the conversion to shares can be at any time.

Also, as my last point, I think Tang was blocked at drawing down that last £300,000 of the loan in Dec, Jan, when the Nomad stepped in then subsequently had to step aside. If Tang drew down again, at that time the conversion rate would also have been revised... We were at 1p then... That would be about 500,000,000 share conversion at the last loan amount.

So glad I still have Polo shares in a bin bag in the garden somewhere...

Hi, I work for Kier & noticed the drop in SP in April after a steady clime. The one thing that may have contributed to this was the share save scheme that always releases it's shares in April after 3 years paying in. anybody receiving shares this April would have bought for 56p & I expect not everyone has trading facilities to sell them selves, so it's done automatically & paid into Salary's.

Hence the sell off is complete & up we go again.

I kept my shares hoping for a bit high selling point :-)

5

Wales dropped out last minute in protest for not being able to sing a song.

Bear in mind the share capital has close to doubled since previous dividend.

haven't done a specific check on how many shares...