Member Info for JerseyCrew

Yashy. Based on your analyse of the modelling what conclusions did you arrive at in terms of potential based on known facts? Very interested to learn about your findings with your colleagues.
ATB

Exetrchief. What is the source of your allegations? Are they verifiable? Always interested to learn but I like to understand the source.

creditors...not credit

Gelston. The way I see it the consortium will be happy if the sale does not happen. They have what they want already. It will just save them 2.2m again unless I am missing something? As a non trading entity that does not have credit is the fca is unlikely to block any windup request and the lse will surely delist. Just my view.

I meant to add Joe whilst we debate that time will reveal all and my genuine primary thoughts here to go long term holders and particularly employees that are potentially impacted in the future. I have lost large sums in the past on AIM and taken huge lessons away. I still remember the sick feeling and would not wish it on anyone.
ATB

Thanks for clarifying the source of your statement joe. I think that without going into the specific reasons against the list of criteria we will not know why individual expressions of interest were not pursued but I would not expect that granularity of board room discussion in any RNS.
As for NDA,s they are used as required. I do not know the detail here. What I would expect however is that once the financial strength of a potential suitor is established (it has to be viable and able to deliver) then it would make sense to widen the circle of confidentiality to ensure that a my ultimate proposal will be accepted by interested parties (I exclude shareholders from this definition as they are not intrinsically linked to the future operational capabilty). In allowing the due diligence to take place under controlled conditions against established criteria they could argue they are carrying out their director responsibilities which as I have previously said are wider in scope than the shareholder.

Joe. Which RNS said investors were turned away? Just what other options did the Board have? Have you ever worked in a PLC and do you understand the number of individuals that would have had to be complicit to any illegal activity here or acting in contravention to company law. There might be one disgruntled person willing to anonymously make accusations of wrong doing but at what motivation? Any illegal acts surely would have been brought to the attention of the police.
There are too many conspiracy theories that do not stand the test of the most rudimentary challenge.

Joe you are making a huge leap between supposedly insider information (inside where?) and the ability for a company to make 10,s of millions available by way of a loan facility. What were the terms and conditions of any loan? How would it be secured and repaid? You need to differentiate between hard facts and unsubstantiated claims. You need to apply a logical line of questioning to get to the facts of the matter and then pass judgement.

Newspapers are not the best source of facts joe!

What is the source of that information joe?

Not wanting to tempt fate but we do seem to be sitting on a solid SP floor at the moment and I think that is a reflection of the underlying sentiment for the potential here.
ATB

Jersey is full of gems.....ask any visitor. JOG is one of the less well known ones. Not for long though!
Another beautiful morning on our stunning island today.I
ATB

Optrade . I would have to challenge your statement again about the BoD behaviour. You really do need to understand the legal obligations of a UK company director and then look at actions taken in the face of a withdrawal of working capital in the form of the credit card company actions. The financial ability to continue to trade without the bridge facility would have been in question and the BoD options would have been limited in the extreme without a number of potential suitors. With only one suitor they were in an incredibly poor negotiating position. They would not have had the luxury of time to wait for for alternative viable (cash backed) offers as the financial clock was ticking.

Breakfree. The resolution up for vote is for directorship not chairman. Chairman is normally elected by the BoD. What am I missing here?

Getting closer to the end of the beginning but even that might be a year or more away.This has more legs than Coronation Street! Hang in there \ here!
ATB

Hi optrade. Predictive text lol. Should have said have his say but will probably only end up as one day! I am learning here along with everyone else so very interested to see how this pans out.

Deeds are not always motivated directly by money. They might be considering their image and reputation or there might be back room games being played on the back of this last few volatile days. One thing I am fairly sure about though. The actions they are taking are ultimately for their own benefit which will probably never be revealed. The big players play to a set of rules all of their own.

Compass I personally think that a sequence of events some of which will be traceable back to the business model and strategy formulated in years gone by and some of which were outside their control such as market conditions created a situation where their cash flow via the credit card company was on the point of being cut off. Their ability to trade would have impossible as the domino impact from their bankers and suppliers would have been immense.
I suspect they were at a cliff edge with very little room for negotiation with any potential suitor. Yes there was value in the company but only viable for an established carrier to weave into their infrastructure and increase their routes. So the consortium had them over a barrel and I suspect it was Hobson,s choice...take the offer of the company will fail. The price of 1p for each was just a token to the shareholders....nothing else. The true cost paid is in the required funding to keep the subsidiaries trading.
People want to blame someone. I understand ...it is the culture we live in. The people I feel for are the hard working employees. Private investors need to understand that they carry all the risk as ordinary shareholders and that is the nature of investing in equities.
Has the BoD acted immorally? I don,t see any evidence in the official notices but that is all we have at the moment other than speculation. It will be very interesting if other facts come to light however.

Optrade. Let's follow your thought process and assume that Kohn is appointed as a director. He will not be in charge as you infer with your comment he will be one voice on a BoD whose existing members have publicly stated they will vote against his appointment. As you know BoD actions are taken by a qurom. Kohn could sit at the table and have his day but will not be able to impact any decisions. But let,s ignore that for one moment and make a huge leap into fairy tale land and say he does get control by turning around the views of the BoD by showing them they previously made some bad decisions. Just what does the holding company have to play with now?....a small amount of cash sufficient to complete the wind up process. The 2 trading subsidiaries have been sold and assets transfered. A BoD can not undo a sale contract.
So when you say that this is not over yet just what do you think can happen? It seems to me that you are creating false hope. I would suggest that there is a relatively small % of AIM pi,s who understand corporate legal entities and governance. They can get hoodwinked by statements that sound plausible but in reality have little substance and we have seen much of this type of rhetoric over recent weeks on this board and suspect some gullible people will have purchased on the back of it.
I am happy to be corrected if I have the facts wrong here and facts in terms of contracts signed \ corporate structure or directorship powers.

That is local island politicians for you! Subsidise a competitor of the state's owned airline. Check out the money wasted so far in Jersey on finding a local hospital site. Nothing surprises me on the political front.