Member Info for GarethUK

Yep, another one gone

Threeputt

The trolls have been banished … at least for now 😅

SC,

It IS mystifying, when we can all benefit and there doesn’t need to be any ‘us or them’

The situation re Congo was mentioned during the presentation in Oslo, but only in passing. In a confidential conversation later, I heard more detail about it. Can’t say anything here, except that it’s more good news, potentially.

Notready1 and others,

Just press the filter button and enter the name. No need then to be distracted by an idiot.

StockCheque

Good point, and probably what he’s doing.

Rahrah

On payment of the $9.7m, it’s clear they aren’t willing payers. AC talked about employing a specialist recovery firm to collect, or as someone on LSE said, he’s “sending the boys round” lol . No comments made on timing

Here are directors’ holdings from the presentation today:

Directors shareholdings in Zenith:

Total Directors' shareholdings in

Zenith:

Andrea Cattaneo:

11.11%

Luca Benedetto:

3.14%

Sergey Borovsky

1.28%

15.53% TOTAL

Full claims are for $630m plus. When they went for $6.7m in Case 1, they were awarded $9.7m. They are going for $130m in Case 2 but that alone could bring $200m.

Taverham,

Thanks. I got the impression that the Tunisians are messing around constantly and so Zen went ahead and submitted early schedule dates but didn’t rely on the Tunisians to agree them. I got the distinct impression that the Tunisians haven’t a leg to stand on and are now just floundering about everything.

Slicevolley,

Yes please, but have no experience of telegram groups so will need some help on how to.

This is the company that went bust this week with shares in Zen, causing the sp to dip:

https://www.nugroup.no

Nordic Unmanned

I am just getting confirmation of the name of the company that went bust , causing the price dip, and will share it as soon as I can.

Slicevolley,

AC also made the point that the 3rd Case is being heard by a tribunal in the same building and under the auspices of the World Bank in DC. If the Tunisians lose Cases 2 and 3 they will have to pay or else they won’t get another dime from the World Bank.

SC,

I don’t know details of the name, but the current drop in sp is entirely because a Scandinavian investor with a big holding suddenly went bust this week.

Panman,

Yes, he stressed this several times during the presentation and in answer to questions. He said some companies promise this but then don’t deliver. He is totally committed to delivering it as the Cases are won.

Panman,

Yes, he stressed this several times during the presentation and in answer to questions. He said some companies promise this but then don’t deliver. He is totally committed to delivering it as the Cases are won.

All shareholders will benefit equally from a special dividend regardless of when they bought, as long as that was before the dividend was declared. So it won’t matter whether shares have been held for days or years.

On the shorter timetable which should have been submitted to tribunal by 20 Jan. AC said Zen had submitted its proposals well in time but can’t speak for the Tunisians and doesn’t know what they have said to the tribunal. Thinks the tribulation will take a very dim view of Tunisia for failing to comply.

Zen now using recovery specialists to recover the $9.7m from Case 1, and will pay a special dividend as soon as the money is in the bank.

A few of the key messages from today’s meeting at the Grand Hotel, Oslo.

Very high degree of confidence by AC and his team. The most risky of the cases was Case 1, but they won that with the tribunal awarding them more money than they had claimed originally. Zen presented 95% of the evidence, Tunisia only 5%. Tribunal very damning about lack of an argument and no credible case.

AC and team are most confident about Case 2, more than Case 1.

See all 3 cases as carbon copies/photo copies of each other. AC pressing for full $600m plus.

Tunisians not serious about settling in the meantime, just making token gestures.