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more than 20 million of outstanding bonds with no cash left to pay them
they expire on June 2021
the bondholders obviously can see that, they were waiting for the JV deal
they are institutional investors based in Switzerland and Bahamas, I heard that they are already speaking with their lawyers about it
in my opinion the board has now the opportunity to clarify many issues of the past...
If they miss this opportunity there will be consequences
The bond holders are already on a war footing, a lot of shareholders will join them for sure
Apparently there's a rumor about the meeting with the BoD, they want to decide the timing (only 2 hours!?) the location and probably also the questions.
I think that they really didn't understand that we are qualified to call a general meeting now.
It's better to keep the FCA and the other regulators well informed about it.
In the meanwhle maybe we should begin to appoint a lawyer to talk about the deleted recordings...
These people probably think that we are bunch of idiots.
whats the point to have JP as advisor now?
Apparently this new CEO has a good experience, do we really need another man there who forgot to check for a proof of funds after months of negotiation?
We should ask JP to pay back the money he received in the last few years.
10% is a very good result, now they are in trouble, they will have to explain many many things...
(a missing proof of funds after months of negotiations !?)
The only way they can get out from this mess now is a fast and good sell of the entire company, including Sidi.
The bond expires on 15/6/2021, there will be no cash left for that date to pay it back.
No one wants to deal with these people anymore, they are only cash burners with no skills.
The bond investors in Switzerland are already talking with their lawyers after the last RNS.
It's over for JP, Fumagalli & co.
Guys: JP, the CEO who negotiated a JV with a company giving us also some details (112.5 mio usd, 5 new wells...) and then the proof of funds is missing...
Please Crude give us your "opinion" about it
I need to laugh
I can see only one way out for JP, on the 20th during the chat he has to come up with a numebr or at least a range of dividend the shareholders are going to receive every year from the gas sale and from which date
Not only that, the further sale of that 9% has to disappear
This will never happen, the chat will be a massacre
I can't wait for this man to leave, we don't need such a rookie for 900.000 GBP per year
his skills are close to zero, how can a ceo put him self in the position to receive death threats and insults?
really low cultural level... The whole situation speaks for him