Puzzled..29 Nov 2019 19:01
So we put £250,000 in Oyster in 2017, then Oyster couldn't repay the loan notes so we ended up with 225 shares of Oyster, then we invested US$130,000 for another 108 taking our total shares up to 333 (30% of the issued share capital of Oyster) Now we're giving our share of Oyster away for, supposedly, £240,000 but I guess $200,000 of that will be in the form of Sajawin shares (which we'll agree not to sell for a year) but all this will only happen if the 'conditions precedents' are met and if they are, Sajawin will only have 55% of Oyster, so how much of Sajawin will Gun get for the $200,000 ? Whatever the amount, our share of Oyster seems to be diminishing.
And what to make of this: "The Production Sharing Contract for Blocks 1, 2, 3 & 4 in the Republic of Djibouti are not included in the Transaction and will be transferred to a party of Northbay and Gunsynd's choosing on or before Completion"