The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Well said lucky
Tbh guys I think with MTMY latest update and basically saying take it or leave it, they want to discuss it and have few days to think and vote. I’d expect this is the final one now just a few days
Looks like voting at 10am on Tuesday (8am UK) and meeting to discuss votes I believe at 4pm (2pm UK)
https://mayafiles.tase.co.il/rpdf/1210001-1211000/P1210572-00.pdf
Reznik Paz Nevo Trusts Ltd., the trustee for the Series A Bonds of the Company (hereinafter: "the Trustee" and "the Debentures", respectively), hereby hereby announces that a meeting of the Debenture Holders will be held, without actual meeting on January 29, 2019, at 16:00 ("the Meeting"). In order to protect the rights of the debenture holders and due to the urgency in the decision making on the agenda of this meeting, the trustee used his authority according to the law, and accordingly shortened the time required to give prior notice regarding the convening of a meeting of the debenture holders. Voting on the agenda of the meeting shall be done by means of ballots or votes in the electronic voting system, as specified in section 7 below, which shall be delivered to the Trustee by Tuesday, January 29, 2019, at 10:00.
I believe it’s the meeting to cast the vote babs as stated on today’s RNS and then further meeting on Sunday I believe.
Shorters in full force on twitter LOL good sign for us!
6pm in their time is 4pm UK I believe? So yes before close is possible. This could be interesting!
Hi Cold, hope your good mate. It’s from this morning. Second of the two released, at 11.46am TA time
2. The Company will undertake that an arrangement with the debenture holders will be subject to the following principles: 2.1. Cash distributions in the fund - the balance of cash in the company's treasury, after payment In an agreed amount to Rainmaker and leaving a cushion to finance reasonable administrative and general expenses, will be used for early redemption of the debentures. 2.2. The balance of the principal of the debentures (after repayment as stated in section 2.1) shall be distributed accordingly To a forecast dividend from Team Internet. The bondholders will be given additional interest in respect of this deployment. 2.3. Efficiency process - the Company will implement an efficiency process for the purpose of significantly reducing its expenses and subject to the approval of the debenture holders. 2.4. Collateral - the Company will pledge to its debenture holders its rights to receive Tax rebates from foreign companies, all of its holdings in Team Internet shares, as well as conditional changes pursuant to the Company's sale agreements made by the Company in the past.
The manner of determining a contrary matter in the framework of the detailed resolution of the voting slip is detailed in Appendix B to the Voting Deed. 1. The subject on the agenda of the meeting is as follows: 1.1 The provision of the Debentures for immediate repayment is conditional [the majority required for the purpose of adopting this resolution is a simple majority of the total number of votes participating in the vote, excluding the abstainers], the full unpaid balance of the debentures for immediate repayment shall be given effect on 2630.1.2019 Until the said date: 1. The shareholders of the Company shall inject to the Company an amount not less than $ 15 million which shall not be repaid before the debentures have been repaid in full. The more the flow is effected through the granting of a loan to the Company, the lower it will be to the debentures in insolvency proceedings. Looks like they want to play ball to me
The decision in this Section 1.1 is subject to the indemnification and financing obligation in Section 9 of this subpoena, and for this purpose, the provisions of Section 9 below shall be deemed to be an integral part of the said resolution. It is hereby clarified that a holder who voted prior to the publication of this amended notice and who shall not change his vote shall be deemed to have voted on the amended resolution on the agenda of the meeting as detailed in this notice. It is hereby clarified that if the proposed resolution in this Section 1.1 is passed by the required majority, it shall replace and nullify the decision taken at the meeting of the Holders on December 26,
Voting tonight by looks of it!
At the request of a material holder of the Series A Bonds issued by the Company ("the Debentures"), Reznik Paz Nevo Trusts Ltd., the Trustee for the Debentures ("the Trustee"), hereby announces that a meeting of debenture holders will be held, In practice on Thursday January 24, 2019, at 23:59. ("The Meeting"). In view of the substantive request of the holder, the trustee used his authority according to the law, and accordingly he shortened the time limit Which is required to give advance notice regarding the convening of a meeting of the debenture holders. The voting on the agenda shall be done by means of ballots or votes in the electronic voting system, as specified in section 7 below, which shall be delivered to the Trustee by Thursday, 24 January 2019, at 17:59.
Pure impatience. That muppet on twitter making an issue of the delay and people jumping on bandwagon not realising it’s this weekend! No research and listen to idiots with false info
I agree flightman. I’m impressed with the constant news flow too to keep us in the loop. Shows they want to get this resolved amicably and soon as possible so they can move forward. It’s all happening at the moment and hopefully come next week, it’s all put to bed and resolved and of course in our favour!
Looks like a meeting adjourned to Sunday at 2pm? Can’t make head or tail of this. Debenture meeting tonight and I think voting one on Sunday? Can anyone clarify?
Looks like meeting scheduled today? Due to request by holder they have shortened the time and holding meeting tonight. Can’t transslate whole thing, if someone else can? That’s all I could get so far.
The letter states that a demand by any individual bondholder to vote on immediate repayment, unless the conditions set by the representatives of the bondholders are met, means that a vote in favor of this offer will have severe implications, and is essentially a vote for immediate repayment of the bonds, as it is not supported Matomy and/or its shareholders. In addition, the Company believes that putting a vote that does not present the Updated Company's Proposal as an alternative against any other proposal lacks good faith and may mislead bondholders that have not had an opportunity to weigh the alternatives and the Company reserves all rights in this matter. So from what I gather - even if an individual does not agree or demands immediate repayment shows lack of commitment to the cause and their fellow bondholders so assuming majority vote would count and on grounds of just demanding immediate repayment would be thrown out the window. Correct me if I’m wrong.
Last paragraph - basically take it or leave it. Although if you leave it, it will have severe implications. Great update. Surely they can’t say no to this??