Member Info for Ivyspivey

Great to see a nice rebound from lows
Can we just wait and get the result of the GC before we discuss what money may be available and to whom it will go and how it will be spent.

https://www.atlanticcouncil.org/about/international-advisory-board

Hi Gary just was looking fir links and some other heavy hitters

https://www.quora.com/What-is-the-best-law-firm-in-the-Cayman-Islands

FRR have Maples in their website but think are using Mourant now as Hope is using Maples.
Both good firms and as appeal will be in front of 3 experienced judges then not sure if it will really make that much difference as they will fully understand the legalitys of case.

Yes if we lose the court case but then can simply pay off Outrider in full then that is fine as yes it will cost a lot but gets rid if him once and for all and retain asset.
If we can’t just pay him off and Hope can secure the asset then that is not good.
I still did not get why they did not pay the $2m(assuming they had access to the money) and then take Hope to court fir breach of duties.At least they would not be in default.
It seems obvious they wanted to trigger the default and they may have had good reasons for doing it but so far I have not found a plausible one( ones stating Zaza must have a plan- without more info are not convincing).
Sure we will learn more in next few days and great to see more positivity but reading some of the sad story’s about how if this fails it will directly impact hugely on people’s life’s reminds me that yes we all make our own investment decisions and take the risks/rewards but if it turns out this is a miscalculation by the BOD then that impact is even more poignant.

Absolutely any deal will influence how much we need.
It has. It’s PRTK the best part of $1bn to get to market.MTFB have( if Approved) will have done it for less than $100m.
Yes they will have to spend more to get HABP etc but they will also start getting revenue in 2019.

The main reason for PRTK being down is cash burn.
Completely different scenario here

Thanks Shatner
Hi Puddy hope your “Shatter” will be what the shorters are doing in their keks if this relists with news lol
Still too close to call but waiting patiently

Saw sudden jump up in time for US opening.

Does anyone know if I am correct in saying you need a Nomad for normal RNSs but if you want to issue an RNS-R or Reach you don’t need a Nomad

https://www.londonstockexchange.com/products-and-services/rns/rns-reach-factsheet.pdf

Would the submission of all the discovery materials requested by FRR be done by now.
As Hope is late with his defence it is likely he may be late in responding to this request or is he late in providing evidence to rebut some of this discovered evidence.
Let us see Edgar the next few days/weeks brings.
Hope you all had a nice festive break hit under the best of circumstances

Hope you all had good breaks


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M Jones
Most of us on here are reasonable and more than aware of the risks here.
If your crowd get proved right I am sure you will continue to crow and troll which is undefiying.
But as Pyro says if you are wrong you run serious risk of being burnt.
No one can call this one as we don’t know the full picture.
No one has come out of this with credit but we can try and retain our respect but do be conscious of the depth of feeling here

Pyro
Nice post.
Again would be more comfortable with a few major institutions in here with lot to lose as they may have more influence with FRR.Really hope I am wrong but as others have said some of attitude smacks of arrogance and treating SH like mushrooms and running st their oersonal fiefdom.
Know they have lots of money in but expect them to act rationally and not take uneccesary risks.

This is his post but have to say pretty much sums up how I generally feel here.More than happy to be totally wrong on this

A good post a Fozzer,

Personally i think ZM/SN are to blame for this mess and its there in the court documents for us to read. Hope appeared to continually ask for assurances on funding and then asked about his notes interest payments, on or around the 4th he was told they were working on it (the day Zaza was stood in front of investors) then on the 10th he asked for shares from the guarantors which was immediately followed by the Caymen court case. Maybe I’m wrong but that doesn’t tell me this was Hope taking the company out it just says he was owed his dues from the guarantors who failed to stump up the shares, he wanted shares not the company.
Whether the court case was ZM/SN buying time for another unknown event like the loan or company sale I’m not sure but the judge didn’t seem to be convinced because he lifted the injunction and FRR had to appeal to get it reinstated.
Regarding Cairns they have done us all a huge favour probably as a result of them not being given full insight into what was going on behind the scenes but I’m speculating there. If we had traded this would have gone to near zero.

So where are we? IMO We are in the hands of three men (completely), two appear to be detached have not been completely upfront apart from with themselves and appear in my mind to be running this as if it’s there own. One has a history of losing a prized asset at the last minute the other as time progresses isn’t coming up in a good light either! The things he said at the investor meeting was all very nice however this was a red hot potato in the background. Their naivety at the scale of this is concerning, the court documents telling and tweet on Xmas eve about not knowing about the NOMAD strange. Cairns advised them at 7:40 am but they tweet later in the day? Again they had the opportunity to contact Cairns or the LSE and do something about it but on that evening they still didn’t understand.

So moving forward we need to hope for the best and prepare for the worst, maybe there will be a deal and I hope the three of them are locked in discussions sorting this out but Instead of painting Hope as the pantomime villain I think we need to be prepared for this to go to the wall to seek maximum redress from ZM/SN as our losses will be as a result of their actions and inactions.

Happy to be corrected or discuss.

Puddy of course he would know why they have resigned.
They spent Friday( know Jo was in meetings and 99% it would be to do with FRR);and probably the W/end both looking atvthe court disclosures and crafting the RNS re court update.
Do you believe they spent all that time talking to each other and it saying anything then resigned on the Monday.
It would be obviously discussed and co ordinated time wise and sure both Jo would have told FRR the reason and/ or FRR would certainly have asked.
So yes whole thing may have been a surprise to FRR over W/ end but not imo on the Monday morning.
The fact that ZM did not realise the frustrations the Nomad had with them the communication cannot be a surprise

Puddy
Yes great. Xmas and going to Boxing Day footy here.Probably in similar situation to yourself as to implications of how this will play out but whatever.
This is not a good time but clear heads and I can just work a bit longer to even out things but wont effect any of my plans and just wish all the LTH every success

Morning Puddy
As someone on another board said we must take emotion out of this and yes we will all get upset and wish the other side to be damaged but no one imo can call this and can’t be sure how this will play out.
As Puddy says some folk have a lot of money tied up here and know full well this is not just about how well the oil and gas flows so let us not pretend it is a dead cert as there are certainly some flashing red traffic lights to make all of us wary of the future.
Yes we know that none of us can currently do anything but I hope there are some back channels open( like during the arbitration issue) to ensure FRR do not do anything stupid enough like resume trading without substantive news.
I think it is fine to ask pertinent questions about what has happened and even discuss possible scenarios and motives even if none of us can do anything about it.
Those who want to check in can do do and done that want to avoid have that choice.
Emotions will run high as hard cash and people’s futures are involved but try and yes indulging in personal attacks may help release any tension but at the end of the day we don’t know how this will play out so please let us try and stay calm and respectful and just wait and see.
We all recognise things are coming to a head and am pleased it is now going to be more open but I would discount nothing as being what it seems as we know from the FRR role coaster.
So yes be positive about the possibilities here but as Mark Twain said nothing is certain in life start from death and taxes as for FRR I hope we get to pay loads of tax on the future but avoiding a premature death is rather main fear ATM.
BW all

$20m

Morning
Knowing what we know now about secured debt of Hoe it does seem clear that $200 m of this to clear off Hope or else he would just not allow it

As already said the Appeal Court sits 3 times of year plus Special occasions.
The Jan hearing will be to make a possible judgement on Hope.What happens with the injunction then will be interesting