Member Info for Jarv55

What is to stop Fura backing into Rld? They can keep the asset and use the tax losses get a cheap shell and dual listing? Just thinking why have they changed the terms to cash?

hammer time buyers coming back in https://invst.ly/p4t6e

Now from what I have read they are changing from getting shares to receiving cash why have they done that? Is it because they have identified something and don't want to be locked in for 6 months?
Use of proceeds: the net proceeds of the Proposed Disposal will be utilised to repay the pre-existing Secured Convertible Loan (as set out above) and certain other outstanding creditors, with the balance providing additional working capital for the group. In this regard, subject to the terms of a 6 month lock-up and subsequent 6 month orderly market agreement, the Company will hold the Fura Shares retained by it at Completion as investments held for resale.

We hope that the fee waivers and fee conversions in 2018 and 2019 serve to demonstrate our continued commitment to the Company and we intend, following completion of the Proposed Disposal, to seek to identify a suitable reverse takeover transaction in the mining sector, with significant upside potential and a clear alignment between the interests of directors, management and shareholders.

Waivers and conversion of fees

As announced on 28 June 2019, the Directors and senior management team agreed to waive, in aggregate, US$452,559 of accrued fees due to them up to 30 June 2019. On 29 August 2019, we announced the conversion of an aggregate amount of US$86,250 of unpaid fees accrued to 30 June 2019 into 108,246,025 new Common Shares. Accordingly, all outstanding fees due to the Company's directors and senior management up to 30 June 2019 were settled in full.



Additional fundraising to cover the period to Completion

On 4 July 2019, the Company announced an equity fundraising of a £100,000 (before expenses) to provide additional working capital for the period through to completion of the Proposed Disposal, which was arranged by Peterhouse Capital Limited who were simultaneuously appointed as the Company's sole broker.

In summary, the overall effect of the Sixth Addendum is to facilitate the anticipated near term completion of the Disposal and provide Richland with wholly cash consideration of USD1,250,000 (approximately GBP937,000). The Company's Board believes that the Sixth Addendum is in the Company's best interests since, the total consideration receivable pursuant to the amended agreement is broadly equivalent, whilst removing the market risk and exposure to transaction costs associated with the previously agreed predominantly equity consideration, as well as the uncertainty associated with the previously agreed deferred consideration elements.

The Revised Longstop Date will enable the parties to finalise the remaining legal and other formalities in relation to completion of the Proposed Disposal with the Revised Consideration.

As previously announced on 27 June 2019, the maturity date of the Secured Convertible Loan Facility was extended to the Longstop Date such that the new maturity date for the facility is now 20 December 2019, as agreed with the provider of the facility.

An amount of US$880,000 (approximately GBP660,000), out of the Revised Consideration is to be paid directly to the Lender in order to settle the total amount outstanding under the Company's pre-existing Secured Convertible Loan Facility (including all accrued interest). The balance of the Revised Consideration will be utilised by the Company to pay transaction costs and certain other outstanding creditors and to provide additional working capital as the Company seeks to identify a suitable reverse takeover transaction in the mining sector.

A further announcement(s) will be made, as appropriate, in due course.

Graham I have even drawn you a pretty box to explain it https://invst.ly/p4rvc

Graham this is what it means 2p was resistance it is now strong support possible inverse h and shouders forming now
news by the 20th so may not have time to form that right shoulder unless extended again we shall see.

https://invst.ly/p4rpd

https://invst.ly/p4rmm

from a tech point of view it is in the buy zone https://invst.ly/p4pz6

bozzy_s
18 Sep '19 - 15:02 - 846 of 868
0 1 0
This shipment worth roughly 2700 x 530 Euros = 1.43m .... does that sound roughly correct?

Is this right?

Bought a few this isn't just pis buying follow the volume.

Have seen this so many times bear raid, multiple user accounts deramping, newbies panicking stop losses get hit, mms say thank you very much and the derampers turn into buyers. If you actually do some research you will be seeing this as a gift.

lastasgrandes do some research

Casper will be interesting to see if the Sheikh buys open market

https://www.proactiveinvestors.co.uk/companies/news/909245/oracle-power-plc-signs-agreement-with-new-partners-for-thar-power-station-development-909245.html

Going forward the Private Office and Oracle will be responsible for, amongst other things, securing all the required permits, licenses, governmental and regulatory approvals, whilst also ensuring CNCDCL are introduced to the highest Government stakeholders, Ministries, Government agencies and departments in order to enable the Parties to jointly further advance and develop the Project.



CNCDCL will be primarily responsible for providing the required technical and commercial support in order to meet the project requirements, as well as arranging all the debt required to develop the Project. This includes applications for obtaining/granting of contracts and licenses necessary for the for the development, establishment, construction, completion, commissioning, commercial operation and maintenance of the Project.



A detailed agreement will be put in place once the Parties have finalised agreement on individual shareholdings and funding commitments. It is envisaged that the development expenditure incurred by Oracle up to the 15 December 2019 will be capitalised.







Naheed Memon, CEO of Oracle said:

"I am delighted to now confirm and welcome our new partners, His Highness Sheikh Ahmed Dalmook Juma Al Maktoum and China Coal. I believe these two partners bring with them the requisite expertise, financial wherewithal and global presence to ensure a Project of this scale can be brought to fruition. This Project is of national significance not just for Pakistan but, we believe, also for China as part of its One Belt Initiative and inclusion in CPEC. I am honoured that our new partners share Oracle's vision and can see the truly transformational impact that the development of Thar Block VI can provide.



The outlook for Oracle has never been brighter and I look forward to updating the market on further developments as we move forward in 2020."

Mon, 16th Dec 2019 07:00
RNS Number : 9096W
Oracle Power PLC
16 December 2019


16 December 2019



?

Oracle Power PLC

("Oracle", the "Company" or the "Group")



Joint Development Agreement Signed with the Private Office H.H. Sheikh Ahmed Dalmook Al Maktoum and China National Coal Development Company



Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in Block VI of the Thar desert in the south-east of the Sindh Province of Pakistan (the "Project") on Sunday 15 December 2019 entered into a Joint Development Agreement ("JDA") with the Private Office of H.H. Sheikh Ahmed Dalmook Juma Al Maktoum ("Private Office") and China National Coal Development Company Limited ("CNCDCL"), a subsidiary of China National Coal Group Corporation (collectively with Oracle, "the Parties").



This JDA follows on from the Company's announcement of 19 November 2019 detailing that the Company's flagship Thar Block VI has been included in a proposed new initiative between the governments of Pakistan and China with respect to gasification of coal into fertiliser. The Project is also enshrined within the intra-government initiatives under the China-Pakistan Economic Corridor ("CPEC"). This new initiative runs in parallel to the Company's remaining long-term plan to construct and operate a mine-mouth power plant on Thar Block VI, also included as a "Priority Project" within the CPEC. The Company believes this JDA supersedes and replaces the previous Memorandum of Understanding (dated 19 December 2018 and subsequently amended: www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ORCP/14016881.html) and provides for an all-encompassing development scenario for both aspects of the aforementioned projects.



The JDA foresees the creation of a Special Purpose Vehicle to develop and undertake both projects. It is envisaged that the Project will be funded on a 75% debt and 25% equity basis, with the proposed ownership as follows:



CNCDCL 73%

Private Office 15%

Oracle 12%

Interview at some point hold the line

watch and learn mms will be collecting