I agree completely with you that PI's are being shafted, but the three you mention are not the only majors, AXA 2% management 1%, various other smaller funds around the one percent mark will soon push the delist vote over 50%. I'd be surprised if PI's hold over 30% all told . the only posible ray of hope is in the coment that they propose to set up a mechanism to continue to trade shares. this suggests that they will keep the company trading as GTE and is being done I think to appease the smaller fund mangers. Downside is they probably wont trade small quantities. Good luck all
Doesnt matter in the slightest what we PI's vote the management,Generation, Zouk and other majors have the majority and will vote together.
Kernkraft I agree with you completely, and what is worse a number of PI's who were interested in green investments, were at the least reassured by Al Gores name being behind Generation. As I posted before I believe the high coupon on the loan notes will allow Generation etc to force a default and so put the co into administration. they will then own the Intellectual property ( the real value) which they will transfer into a new shell.
Am I missing something here? GIM, Zouk & Oceanic all bought in at around the 20 p Mark. Also they have stumped up the cash for the loan notes, so they must be hurting on this one in a big way. But to have bankrolled it so far they must believe in it. I assume the de-list is so they can put the co into admin and resurrect a new one from the ashes and leave the small PI's with worthless shares in a non existant company. I cant see how this one is going to jump back up before delisting. good luck all.
This was reported in Q4 update but I cant find any mention in Annual report. Can anybody point out if I've just missed it or otherwise any thoughts? ----------- "Agreement in principle has been reached to settle the outstanding dispute with Incat, the previous owners of Luba Freeport, where Incat was claiming US$8.5m (£5.3m) in outstanding invoices, with an agreed payment of US$1m (£0.6m) paid in twelve instalments. Lonrho had made provision for liabilities from this claim and as such is expecting to record an exceptional gain of US$5.5m (£3.5m) before legal costs in the first quarter of the current financial year."-----------
One can only hope that the resignation of the FD isnt a precursor for a horrendous set of accounts in April !! Cant make my mind up whether to cut losses and run or chance a big top up. Seems like this company keep things very quiet and close to their chest. No apparent signs yet of the big boys baling out and they got in at 20p+ so hopefully they are satisfied with what they see in the books! Any thoughts. Betwen us we must be rapidly dpleting world Valium stocks!!
Alibaba I guess from your recent post you are still in, like me! Any views on when or if this SP is going to stop dropping! Also dont see many buys suggesting people are topping up at this price. Even the P&W deal doesnt seem to have helped. Kind regards Gumby
I hadn't considered the confidence aspect- very good point. My worry is that GTE's potential customers are using all available capital to reduce debt mountains and will look upon this as a discretionary rather than essential purchase item and will prefer to live with increased fuel costs whilst the oil price is still relatively low. Especially if there is no clear agreement and political pressure coming out of Copenhagen. In the meantime the technology is ageing and may no longer hold its market edge. What think you?
Thanks for posting this. How does Zwolinski get off with loaning money to his own company at 9.5% interest??? Sounds like its time to cut losses on this pile of crap and bail out!!!!
No havent lost out but it sure still P@@s@s me off big time!!!
Just take a look at the share chart for the last month. - Head and shoulders after consolidation followed by traditional fall. ( MM’s signal to get out on a high). - News of results leaked to insiders 20/21 Nov – note heavy buying pressure for short time without significant SP increase. - 24-30 Nov MM’s tree shake to get price down and buy in. – 02/03 Dec Positive spin news released to press ahead of results to get people to buy in the hope of quick profit over results announcement and also deter shorters. Nett result ---- 1 MM’s make a killing on a 10 day turn-round on shares they haven’t yet had to pay for 2------ SP not disproportionately affected by shorters on less than good news. 3---- we poor PI’s loose out on the SP increase we should have had on the back of what was after all not a bad set of results in the present economic climate. NOW TELL ME INSIDER TRADING ISNT STILL ALIVE AND KICKING!!!!!
Glad to here somebody else has doubts like me! Being an engineer I bought in believing they had a niche market with good potential but they dont appear to be making any headway and the decline in the SP means I am sitting on uncomfortably big ( for me!) losses. As far as I know no more earnings news till April. Not sure whether to hold or just cut losses and bail out.
Can anybody explain wahy the masssive number of sells Tues PM, many of them for the same amount. The SP didnt seem to respond so is this just a computer glitch or is there some bad news the insiders have picked up? Kind regards All