Member Info for KanakJoshi

Hi,
has anyone noticed the below trade sneak into today's trades ...
09-Sep-19 16:20:54 0.27302 50,625,000 Buy* 0.20 0.22 138.22k O
... just wondering if it is a glitch on my screen.
GLA

"Oilex Ltd (Oilex or the Company) advises that it has issued 13,888,889 ordinary shares at 0.36 pence (New Ordinary Shares) for £50,000 being the final tranche in the £650,000 equity capital raising as announced on 18 December 2018."

Who ever that was they must have been sure about something.

MMs are testing the stop loss and panic sellers. Each to their own.

IMO, DYOR, GLA, e

Just tried an experiment with £400.

I can sell 2,000,000 share, however cannot buy £400 worth !!!

£0.004852 to SELL

... which is higher than the published 47 :)

Don't forget this line in the Order.. "This order shall not effect the current operations under the contract and the agreement."
Which means that $3 millions is only the start. GSPC have to continue to pay their share of the costs during the arbitration.
They cannot go to arbitration and at the same time rack up more dept to OEX.

All aboard, choo choo

Good BUY otherwise goodbye.

MadChatter, the judge has give the Applicant one last chance to get out of this mess, in the only way he can; i.e. "by way of interim measure". It is up to the Applicant to meet the conditions. All this is to allow the Arbitration to proceed, which needs to happen "It is further provided that this order by interim measure as envisaged under section 9 of the Act would be valid only if applicant initiates the arbitration proceeding within a period of one month from today.", i.e. 1st December 2018. The Applicant is f*cked. Within the judgement there was also "This order shall not effect the current operations under the contract and the agreement.", which means they still need to continue current
operational costs, i.e. racking up more IOUs.
The sh*t has hit the fan for the Applicant.
The only way out is if Vileda Boy and Marigold Girl come and clean up the mess.

What does it mean ?
Applicant owes Rs.30 crores to the Respondent.
There is no further legal matter on that fact.
Go to Arbitration if Applicant believes the money is not owed, however before that, deposit the money with the court to ensure that it can be passed onto the Respondent if you lose.

In light of the aforesaid discussion therefore, it deserves to be noted that the default notice is of Rs.30 crores ...
...
... Consequently, while allowing the present application, by way of interim measure, the default notice dated 29.05.2018 and letter dated 29.07.2018 issued by respondent no.1 are stayed on condition that the applicant shall deposit a sum of Rs.8.25 crores before this Court in the name Registrar of the High Court latest by 15.11.2015 and the said amount shall be invested in a FDR with cumulative effect till the arbitral proceedings are over and shall further give bank guarantee for Rs.21.75 crores of a nationalised bank in the name of Registrar of High Court of Gujarat latest by 15.11.2015 valid till arbitration proceedings are over, which will cover the whole amount claimed in default notice.

That may not be a good thing because all the assets will go into receivership and the creditors will be circling. We need to get the judgement resolved. 100% ownership, debt for equity or arbitration, what ever it is we need to get it concluded before filing for bankruptcy.
Next week should be a good week, what ever happens to GSPC, OEX will be winning. Even if we don't get the remaining 55%, we should end up with a more workable partner.
GLA, DYOR, IMO, your investment can go down as well as down, etc.

I can sell anything from 20% to 100% of my stock with offers of 0.003777 for 20% and 0.00376 for 100%.

I am nowhere near the size of holding as some on this board, however it is in the teen thousands.

Some is willing to buy the lot without NT.

... and now it has gone.

The values displayed against your UK shares have been taken during an auction period (15 minutes price delay). During this time your stock valuations may fluctuate.

I topped up twice today, @4366 and @4155.

Don't set a 0.38 ish STOP LOSS overnight, it will open low tomorrow and STEAL your stock.

Let's wait to see if any late trades come in.

Good BUY or Goodbye.

GLA

£0.00435 me too, and the price was going up until the market closed :)

I can SELL for more than that :)