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Not heard anything.
Me too.
So I guess that is it then?
I still can't believe Hudson let it fold rather than let someone else loan the company some money!
Interesting, I would so love that to happen!
Just curious...
Why when you own over 51% of the company (or just before this happened) are you not obliged to make an offer for the whole company?
If you are an absolute majority then you in effect own the whole company, as mentioned below, you can veto/control everything the company does!!!
Thanks for the detailed comments. Much appreciated.
I was reading about the process on another liquidator’s website and if management remains on board, it generally means one of two things:
• They are trying to come back from liquidation, OR
• There are no disputes, liquidation is easy and case should be closed in a few weeks
Fingers crossed for option A!
Time will tell...
https://www.grantthorntonci.com/en/News-Centre/recovery--reorganisation-news/
I am curious about a few things that maybe someone here can help me on:
1) Does the refusal to allow the next part of the loan to be given to the company mean the terms of the loan have been breached? (good faith or not?). Thus the assets (sales etc) are not used to pay off the loan but used to pay off creditors etc?
2) Who is the largest single shareholder in the company or is the 49% a collection of small shareholders?
Is that it then, or could some agreement occur and thus this goes back in play?
He got me all excited too!
Looks to me that they are talking and will come to some agreement shortly.
That's why I have put in another 2.5k (which has not appeared on trades!)
Thanks for the quick reply.
C
Is this Tony Gardner-Hillman a Hudson guy?
Also, what is the makeup of the board between Hudson people and non'Hudson people?
Would everyone be ok with this possible solution?
In return for a stake in the mine, a third party funds the bulk sample shipment and the development of the mine?
Agree with your thinking.
Would it not be cheaper and easier just to buy the remaining 49% of the shares. IMHO it would not cost that much to acquire at 1p or so!
Personally I would allow a third party stakeholder in to pay/develop the mine etc and give them a minority stake in the mine!
C
The loan(s) are guaranteed on the assets. As Hudson are not allowing the loan facility to be drawn down, is that a breach of the agreement from their side? Thus they would not get the assets of the company if the company is liquidated?
IMHO!
Isn't this RNS stating the obvious that was already known? They need funding from somewhere:
1) Hudson
2) New stakeholder that Hudson approves of
3) Increased revenues e.g. the port!
Looks like there are lots of people keeping an eye on this share and waiting for the drops to buy in!
Yes, I agree. The question is when and from whom!