Member Info for FigTreeHarry

Maybe it was the JPL’s buying...30,000 :))

I’m inclined to sway near your thoughts DontFret.
It just the wording is done is such a way that I believe it is the same as we expect, but not as we know it. Until more detail is shared. JPL is what we sought for. A restructuring i still think comes from the assets left over and shared with shareholders incl the CEO HIMSELF, THIS could mean different things until elaborated. An RNS announcement on a positive outcome would mean sp rises up, after returning back to LSE. There is no float. All Shreholders benefit, and a 10% equity could be issued due to demand/ full take up.

No large holders sold, not even CEO, but then he could not with JPL reporting back to Trustees every 2 weeks, as all sales are RNS.
Nobody sold, and could not buy/ add at 30p - yes literally nobody could buy, then the “temp suspension” based on late filing due to covid this was Oct 15th opening, 2 days after 13th date stated on PDF.

This was the day the Court hearing 13th Oct.
If the news was public, and sp whipped up for 2 days, a bad scenario would be sellers, and the sp hitting a new low and then suspension, not the other way round?

All of the above goes against a bad call.

Sorryyyyyyyy....

A simple email - this is the expected outcome by the company g3e would suffice.
Sp would plummet not go up that week, surely.

Maybe another RNS /media update tomorrow with more know how:
alliance news, share news, zak mir.

The PDF came from JPL, who have taken over the assets, thats their role, left over assets distributed to shareholders. Maybe it is the wording and full lack of clarity which is the annoying aspect here.

The company is not insolvent or in administration either.

Sell assets via JPL, which was the plan?
Pay-off creditors - that was the plan?
All moneys from sales If company is solvent goes to shareholders.

It’s definately not in administration like a debenhams

Mon, 15th Jun 2020 15:07
G3 Exploration Ltd - China-focused coal bed methane developer - Says Grand Court of Cayman Islands grant four-month adjournment to company's winding up hearing and provisional liquidation, to allow G3 to advance restructuring options.

Is it meant to be poorly worded? As his Lordship has not written final judgement?
And pdf.

Last time year the original hearing in December was to wind up G3e. When it went to court they agreed to appoint JPL instead of JOL. After much delays ( Covid etc ) we had an announcement to say that the jol would be acting as jol in order to wind up and liquidate the G3e subsidery green dragon gas which holds all the gas producing assets, pay of the debt and G3e would continue as an exploration and investment company. This had the full support of the company and the JPL

The term “winding up” is not being used.
Pay creditors “if solvent to it’s shareholders” is mentioned in pdf. Which we would expect.
The suspension was/is supposedly temporary from G3E perspective.
No delist mentioned. But the website is down.

G3E@GREKO.Com was the email I contacted - twice
Plus
Judiciary.KY forwarded my email to both parties

It is backdated PDF, and refinancing has been going on since July 2020 with JPL’s - maybe this is the correct outcome?

There is very little meat on the rns, no mention of partners, assets, figures, unfortunatley, with regret, sorry, lack of agreement/ negotiation.

Maybe just maybe this might be good news...?

The difference between the two are: Winding Up involves ending all business affairs and includes the closure of the company (including liquidation or dissolution), whilst Liquidation is specifically about selling off company assets in order to pay creditors and then closing the company.

I think so it has to be green dragon - there is no dreen dragon and the CASE WAS FOR GREEN DRAGON!!

They should set up a “tele call with all shareholders” and explain more of the specifics as all shares held. Literally ALL!

How often does that happen Mark?
A group email with JPL will help

There is something missing in the rns, the use of the word company...
I definately think an email to Rebecca tomorrow.
Why would he throw away assets worth well in excess ofdebt at this latter and end stage?
Don’t get it.

A liquidator’s job is to oversee the process of liquidating the company, and will ensure that a company’s contracts, including employment contracts, are fully completed or transferred accordingly. Following this, business transactions and operations will be shut down and legal matters will be resolved in due course. The liquidator will then sell the assets and collect debts owed to the company, before finally paying the creditors and sharing any of the remaining capital with shareholders.

And the sp simply ran up all week?
No large sellers, everyone held, incl singaporean govt, etc

That is a point Mark, unless the hearing did not take place?

The final judgement papers will shed more light, what happened.
So what happene to their gas partner support?