Member Info for gemstar

I assume Prelea and the Board know wtf is going on
Because I don't

Fantasy knows that. He's just trolling
Best filtered

Well yes, except that the Company put out this announcement only 2 weeks ago

'the Company continues to progress towards drawdown of Tranche 1 with both parties working together with the intent to effect drawdown before 31 December 2019. '

Many moons ago this was supposed to be the holy grail
Nothing has been said about this for at least 2 years, whilst the board careered off piste into gas production
Anyone know the position here?

Didnt some government figure state the MOA would be signed by December?

It's not mms. It's a computer making its best guess, based on latest trades

For the Nth time you are muddling up the rules relating to accounts to rules relating to inside information
There is no 30 day rule here

You are confusing the rules relating to accounts etc with rules on insider trading .There is no 30 day rule

Idiot filtered

With this thing now capitalised at a lowly £8m, what are the chances of a management pre pack buy out, I wonder?

I note that this throbber is also making a nuisance of himself on the EUA board

Sorry, you are just confused. When the election is made there is no right of repayment at all, so the formula just does not come into effect

Piker, the November 24 announcement refers to repayment in 2 parts
1) ....the Deed has been structured to give the Company the ability to repay the facility in cash with no conversion, on account of ongoing refinancing discussions with the Swiss Bank and others. There is no mention in this statement whether or not repayment is at par or otherwise
2)..." In the event that the Election is not made the Company may, during the non-conversion period, prepay the Bonds together with accrued unpaid interest at their par value or, if greater, at a premium reflecting the excess of the share price at the time of prepayment over 0.24p. "
It is here that a formula is stated.
However Atlas have stated that they intend to make the Election. Therefore no repaymenr can be made, and the formula is therefore irrelevant
Paragraph 1 therefore stands alone. I cannot conceive Swiss bank paying $7m to discharge a debt of say $21. Repayment must therefore be at par

Pecten, the response from the company was not in relation to the Swiss loan prepayment
So far the company have not specifically answered whether the Swiss loan prepayment will be at par
It is a pity the company does not bestir itself to publish the actual text of the bonds, so one does not have to feret around

There is an option to pay cash instead of conversion
As I said below, my reading now is that any Swiss bank refinance of T1 will be at par
The company needs to confirm this however

On re- reading the announcement of 24th November, I think the intention is that the prepayment out of a new Swiss loan will be made at par
The multiplier applies 'In the event that the Election is not made' Since Atlas intend to make the election, the whole multiplier formula falls away
The company needs to confirm this however

Sandy ,just a figure plucked out of the air based on an assumed share price
The issue is whether the multiplier applies to a refinancing, or whether it is refinanced at par

I can understand equity style loan for Katanga but not for BP
According to AP podcast, Swiss Bank etc just wanted proof of concept for BP
This should not involve paying $21m for $7m

Not really Sandy
On one interpretation this looks impossible. No bank is going to refinance $7m by paying $21m
The company needs to put out an announcement immediately that any refinancing of T1 will be at PAR

It is unclear whether repayment for refinancing is at par