Member Info for GosiaS

I think the SP will be heavily dragged down this week to allow for:
1. A higher number of shares assigned to Chrysoar and the rest of the party;
2. Lower value of non-voting deferred shares for PMO present shareholders.

Stevo, there are exactly 18.5 billion shares to be issued of which 5% is allocated to PMO and that is then still split between creditors and shareholders. It's not like we LTH are given 5%, but less than that. Way less.

Now question is less % of what?

The Combined Group estimated Net Assets value (as per Circular) was set to $3.2553 billon.

Hence my calculation £2.347 BL / 18.5bl = £0.1268 per each share. All based on the circular.

The value of the new share will be the same for all 5% of old PMO and rest.

So for me question remains - what will be the final evaluation of the group that will set the share price value at the start

Plus page 88:
"Finally, the allocation of Consideration Shares among Chrysaor Shareholders will depend on the value of those Consideration Shares in the period up to Completion. The 5 day volume weighted average price of an Ordinary Share, ending on the date which is 5 Business Days before
Completion, will be used to determine the value of the Consideration Shares required to satisfy the Chrysaor loan notes, 100 per cent. of which are held by Harbour Chrysaor Equity Holdings Limited. As such, as the price per Ordinary Share reduces, so the proportion of the Consideration Shares
issued to the Concert Party increases to settle the Chrysaor loan note liability, with a resultant reduction in the proportion of Consideration Shares issued to the other Chrysaor Shareholders. Accordingly, the maximum possible holding of the Concert Party could be 7,624,685,025 Ordinary
Shares in the Combined Group."

In short the lower is price of share in next 5 days the more shares Chrysaor will receive.

With the total of 18.5 billon new common shares in circulation and estimate of £2 billions for the Combined Group, the new share price could be around £0.10 giving us loss of £0.1669

Am I thinking right?

Is the "cherry" also means that they can buy off me and without my consent all non-voting deferred shares and pay me back £0.0001 for all of them? They are worthless anyway right?
New share better be worth substantially more than £26.69 :-(

And continue reading on page 83 of the final circular:
"Accordingly, it is proposed that, pursuant to the terms of the Subdivision, each Existing Ordinary
Share in existence as at the Subdivision Record Date will be subdivided into:
(a) one Ordinary Share with a nominal value of 0.0001 pence each; and
(b) one Non-Voting Deferred Share with a nominal value of 12.4999 pence each.

Non-Voting Deferred Share
The Non-Voting Deferred Shares will be effectively worthless. They will have no voting or dividend rights and, on a return of capital or on a winding up of the Company, will have the right to receive the amount paid up thereon only after holders of all Ordinary Shares have received, in aggregate, any amounts paid up on each Ordinary Share plus £10 million on each Ordinary Share.
The Non-Voting Deferred Shares will not give the holder the right to receive notice of, nor attend, speak or vote at, any general meeting of the Company.
No share certificates will be issued in respect of the Non-Voting Deferred Shares, nor will CREST accounts of Shareholders be credited in respect of any entitlement to Non-Voting Deferred Shares, nor will they be listed on the Official List or admitted to trading on the London Stock Exchange or any other investment exchange. As such, the Non-Voting Deferred Shares will not be transferable at any time (other than with the prior written consent of the Directors). The rights attaching to, and restrictions upon, the Non-Voting Deferred Shares are set out in Resolution 4 in the Notice of General Meeting."

Further down on page 235 is a large list of what we can't do with respect of those shares, no certificate, no dividends, no transfer of rights. And "cherry" on top:
"(vii) the Company shall have the irrevocable authority to appoint any person to execute on behalf of the holders of the Non-Voting Deferred Shares a transfer thereof and/or an agreement to transfer and/or to purchase the same and to execute any other documents which such person may consider necessary or desirable to effect such transfer and/orpurchase, in each case without obtaining the sanction of the holder(s) and for an aggregate payment of 0.0001 pence in respect of the total number of Non-Voting Deferred Shares being made in respect of such acquisition;".
Unless new ordinary share reach a current Pmo share price, we are totally screwed? Is it not better sell now buy later? Does anyone has an idea how much new share will be worth day one, month one?

So I was not surprised to see we will get our present share split into two shares:
1. Common share class at value of £0.0001
2. Non-voting deferred share at the remaining value £26.6899

I doubt these shares will remain at £0.0001 value for long. Question is what can be done with deferred shares? Can you trade them?

That would explain why the institutions are reducing number of shares and increasing other financial options :-/

Entertaining now myself with other options "what if". So what if merger takes place and all shareholders don't get 1 share to 1 share conversion, but £1 to £1 conversion? Hence dragging share artificially down means in new world you get less shares at normal value. Then all instructions who keep options instead of shares get shares at agreed value. That would mean distribution of wealth out of private investors hands to pay for the debt of PMO and not hurting institutions who lend them money. I really don't like this scenario, but wondering if it is possible and legal to do.

nlondon1234, I believe we will hear lots of good stories this and next year about VLS. These will be coming from Japan thanks to VLS cooperation with TOYO.

TOYO completed successfully "concept to life" in 2020 utilising VLS technology and now is heading for development of new plants in Japan and beyond. All of these will carry VLS technology and generate more profit. VLS already received payment in escrow that will be offset against future revenue. So what not to like already?

I think hoping for good election outcome is one thing, but preparing for the worst outcome is a wise thing to do. Even if ZEN will face difficult time after election, this country still needs cheap oil and gas to operate. How many more companies is waiting for Zen to be sidelined and be able to deliver same or better results? If none, then like it or not, they will accept ZEN's offer and get on with the business.

Hmmm, that would be robbery, wouldn't it? Which institutions involved in PMO would allow for it?

Hence they have secured additional funding of up to $65mln - unless I am reading this wrong and that fund is non-existing yet.

This only means to me that RR heads into the future with a debt to pay luggage and will have to fight against crued oil prices hard. Not everyone will afford zero CO2 fuel, unless it is heavily subsidised or free from some taxes.

To me it doesn't matter, because my interest lies in VLS, who is a provider of the technology that RR will utilise in their plant facility. Hence proving the concept big time and getting investors interested in VLS.

It may happen that ls will make better money selling their technology than producing the gas themselves.

It seems MM attack on a share price started - it's going to be a bumpy ride down and up again. Review your stop losses rules.

If you have stop loss set up again your shares you may want to revisit this. We are likely to see a price being dragged down to trigger the automatic selling, before it will go up again.
DYOR

ExpatBrat, where exactly RR is struggling for funding? They received funds from various sources including Portland to get this going and now onboarding workers. Which part of it shows lack of funding? Get real man or people will laugh at you.

McMather, I am still baffled why someone do recruitment now for 4 key positions (at least 3 people per each to cover 24x7 operation) now if they plan to be operational in Autumn. In today's pandemic environment and the highest unemployment so far, it should not be the problem to find someone end of summer. Looking at the intern job, that is lab position.
So my thought is that they employ and train core staff now and start the process running. As it is the first time this is being done, they will operate but not on commercial scale. It will be time to tailor the process and address any issues they may find before finally announcing they are ready for business.

And that another brilliant example we should be taking from India:

https://youtu.be/-MS8vfcTmSM

Amazing

One more Loosely - take a look at the link provided by McMather - it says start up Spring 2021 and way below employment opportunities. Why would someone employ plant operators now if they are not open till Q4 2021???

I would be worried only if Red Rocks decided to pull off completely and replace with another technology or provider. If they take their time to do it right, then bless them.

I decided to invest in VLC because (and you can laugh) while ago I saw a document on YouTube how small community in India collects plastic bottles and other garbage, then turns it in big tanks into gas. This gas is use to run cars there and cook food for thousands of pilgrims everyday. If India people can do it without massive funding, then surely we can do it as well

Fantastic news, thank you for sharing this.