Member Info for DontFret

Let’s get this right though.
They did go to court to liquidate assets and appoint a “debt manager and continue operations” aka what the Rns actually says, but granted, is confusing. Can’t understand why they didn’t put this out last week!

I think so too. Makes zero sense based on everything they have agreed upon over the last year. Means every RNS was balls and made up, also means they went to court for the wrong reasons. Clearly you wouldn’t go to court (take someone who can’t pay debts there) and come out and say “oh well let’s throw in the towel as the court said no now even though they agreed in our favour last year” makes zero sense at all

Exactly Mark. They went to court to sell assets. Aka liquidation of assets and continuation of operations. This isn’t admin.

Reading all the updates it does appear a liquidation of assets ( as was the plan) and able to continue operations. If it comes out of suspension (after accounts) then it clearly isn’t a bust. I’d say it’s gone to plan but worded dreadfully

Still think this is good news aka gone to plan
Haven’t they just done this.......
The Company successfully argued that the interests of all stakeholders (debt holders and shareholders) are best served by the JPL when appointed to facilitate the re-structuring of its assets and on-going business. During this period, the Company will also benefit from a stay of proceedings and give adequate time to restructure its assets and liabilities.

In view of the significant asset base and investments of over US$1billon in the development of its assets, the Company is seeking to re-structure its assets and liabilities in accordance with its previously announced business plan and believes that the JPLs will facilitate such execution to the benefit of all stakeholders

Nothing makes sense lol. Hopefully a clarification RNS tomorrow as that one makes zero sense and goes against everything they set out to do. Unless it’s to a T on that June rns. Meaning gone to plan.

So from that then it looks like it all went to plan

So confusing I need another gin

So nothing at the court could be agreed by both parties so they both had to shut up shop. That might have happened.

Doesn’t make any sense. So the court case was to agree winding down of Green Dragon and selling assets with the CEO stating it was to the benefit of shareholders, now end up liquidating the whole company and shareholders get whatever is left. That can’t be right. Surely a poorly worded rns

So as per the RNS. We get back what’s left over. “If solvent”
Let’s hope there’s a bidding war or we get sod all back.

Nope it’s not it sorry. Case is 229.
Back to waiting

Looks like it’s been uploaded on the court website as a confidential file/application on the 23rd. FSD 0262 Is the right case number right?
Does link in with the court reply below.

Absolutely

bid situation I think mate. TO code disclosures hitting , mcap 18m. no debt, cash 11.6m, proven reserves 9.1m barrels. Producing 4,070 bpd. SP 52 week high 102.50. Current SP 22p. 80% taken on shareholder reg. offer will be multiples of SP. what’s not to like?

At last this board has come alive. Months and months of waiting lol. GL everyone. Couldn’t buy anything into close. Gap up Monday we hope. At last

Thank god for my stop loss that’s all I can say.
This is going one way. Extremely disappointing after all that potential, miss one deadline and peeps just run off

Wow this really is in the toilet.

Halifax crap this morning. Couldn’t even set a buy order kept coming up with code HBOS??

Well done everyone. Enjoy the weekend
See you Monday DOR round two (even you Flava)

All primed for next week. Same again please