RE: Where are with this Zen takeover ?31 Jan 2020 08:38
Zen deal - still possible, is the most possible outcome. They will eventually get funding one way or another, worse case AC will just dilute zen holders as he has the last few years, best case a bond sale (probably secured, the unsecured bonds don’t seem to have sparked any market interest).
Forum deal - possible but unknown, all we have been told is 3 appoint-able directors and suggestions of RTO projects,
but if zen falls through they could potentially put something together for Congo.
AAOG on its own as is with current board - no chance, they have clearly shown they don’t want to sort the issue out or even reduce their own costs to keep the lights on.
Different thought last night - Sarah did mention about being against the possible dilution in maybe an email or rns from aligns deal, can’t remember which, which I can only think was to protect Miltons holding as none of the directors have shares, maybe the placing yesterday is a sweetener to one of the financiers. Miltons December reports said they were confident of reviving and making money from Aaog and zen, and they own part of Riverfort.