Shut the door switch off the light10 Jan 2017 13:50
Well there you have it:
The Joint Liquidators have now concluded their review of offers received to date for the shares held by XEL in Xcite Energy Resources plc (the “Shares”). To date, the M&A process has resulted in four offers for the Shares. Due to commercial sensitivity we cannot provide full details on these offers, the terms and proposed transaction structures of which varied. However, we can confirm that:
none of them would result in a return of any value to shareholders based on the values of the offers; and
secured creditor consent would be required to complete a sale pursuant to any of the offers.
Having reviewed the bids received and consulted with secured creditors, we can now confirm that the Joint Liquidators are in advanced negotiations with a party to conclude a transaction. This transaction will not result in a return of any value to shareholders.
So much for the protestations of the - we will see something back because this company and its assets are so valuable - Mob.
Legends - You know NOTHING and as for the rest of the ramping mob it just goes to show that the much Lauded knowledgeable oil investors you ramped the hell out of this share know nothing at all either!!
To the rest and the few that had the decency and courage to stand up against these morons well done to you - bit of a Pyrrhic victory as being right does not always mean that is a good thing but hey ho.
Good luck to all of you that invested here and I hope you all get your money back in other more successful investments - and to the rest of the scammers ..............!
Oh and the ones that thought forcing the secured creditors not to do a deal and offer up a 5% holding for the other shareholders - Well Done ! Numpties !!
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