Member Info for FigTreeHarry

In the worst case scenario even if sold for half of value is fine with me. The quicker this is Now executed and shared to market done, the better the major / minor shareholders are. Incl CEO.

Starting by lifting suspension and let sp fly. If he wants to raise capital Off the rise, that’s fine. That can be achieved.

Whatever the case, something will give.

The 94% major shareholders will have their say. They have more to lose and lots to gain.

$1.785m v $220m debt

.......
LSE: Can we have the sp taken off suspension please.

Hahaha!
Class..
Stay safe and no hostels..lol

Greka

Mark,
Google Greko gas china, Green dragon and download the pdf’s on
All there:)

Thanks Mark.

Yes GIC - want to ensure they preserve and don’t lose their shareholders value.
Nordic’s maybe seeing it as a win win either way. On additional interest.

Randeep needs to ensure he this finalised asap to ensure he still has a going concern once restructure/ assets are sold.
94.5% shares held is a lot of shareholders / stakeholders who want a return and will be looking at the JOL’s, and Nordic, and Randeep very closely. Indeed.

Structure Plan From Dec Corporate Update: (then Covid came)

Notwithstanding these legal proceedings and the appointment of Receivers on 21st October, 2019, the Company continues as a going concern and has maintained its operations and remains committed to re-structure as follows:

1. Pay its Secured Creditors (Nordic and GIC) in full through either:

a. A Reserve Based Loan ("RBL") of c.$200m through the Green Dragon Gas producing assets. Active discussions to conclude such an arrangement with a bank is underway; or

b. Sale of sufficient equity for cash in wholly owned Green Dragon Gas so as to pay off creditors in full and have additional liquidity. Heads of Agreement with interested party is expected in the near term. A recent report, conducted for the RBL in October, valued the producing Green Dragon Gas, GCZ and GSS blocks at $485millon (1P) and $1.3 billion (2P).

2. Following above execution, dividend Green Dragon Gas to the Shareholders.

3. Continue as an Exploration and Appraisal company specializing in Coal Bed Methane.

Could see LSE SP return if they post a notice about interims next week if expected by Nov 12th?

There is a hedge fund holding 2% which is going to wind down end of the year. I read about it. That float may/ would come onto the market at some point. They must also be frustrated and will add pressure to resolve and gain share holder value.

I see your point Farraday.
It is in Nordic interest, they can see this as a open check book. Thats why JPL’s and JOL’s as they are referred in this part of process and management have to agree and move forward. The Sp suspension will be lifted. Debt is low and assets are $1bn ++

Greed is written on the wrapper.

#Trials

Agree, I know close ones who have had c19, and it is very real and very much in need of a vaccine.
If N4P Trails are a success it all helps this cause.

And your pockets Gazal:)

The sp has held amidst the hurricane it is. Bodes well.
If news is not imminent this is still great news, sp held at 7p.
However it has been a while now, it has to be days now for RNS, def not weeks.

Tooka rest on this today.
If you google GREKO GAS CHINA - You can find pdf on the presentations.
I have them all saved.

In the case of adjournment, due to no accounts ready due to covid, it’s plausable. LSE rule allows this suspension.
An order on day, is a term court officials use generally. September it was already known JPL’s to become JOL’s.
In terms of first restructure plan, you can see outlay in previous corporate updates, keeping going back and you will see the plan. Whether that has been rejected I don’t know, or whether this has been negotiated over the past 9 months, again we don’t know.

GIC is a major shareholder I think, if they were bringing the winding up petition on Green dragon subsiduary, OCT 13TH, and this has been adjourned.
I thought it would be the Nordic trustees?

Mark and Magnusson what is your view on this?

Added at the dip.
I’m locked and stocked.
Whatever happens now

Ok so it the same GIC mention in backdated corporate updates in June - Sept.
Soveriegn funds

When does provisional liquidation come to an end?

The provisional liquidation of a company ceases on:
A winding-up order being made (in which case the Official Receiver will be appointed to act initially as liquidator).
An order of the court discharging the provisional liquidation.
The winding-up petition being dismissed.

What does GIC refer to?

Morning DF/ Mark,
I have asked for some clarification on that. Adjourned but an order by court?
Last time case was adjourned they were given “4 months” - june-oct -
Giving the JOL’s /liquidators more time before the case can mean anumber of things.
Covid has not helped anyone, has to be taken into account.
Firstly as JPL’s they were to protect the assets and come up with a restructure plan.
This maybe the confidential part at this stage with all reporting to courts and bond holders, stakeholders.

I am going by the updates in June:
Inflexion points: liquidators sell producing asset and pay off debt and creditors.
Remaining go back to shareholders.