Member Info for littlened

Why don’t you answer my question FFS

How much cash is in the balance sheet though ?

Whose fault is it that no partners have yet emerged? NFX bod or partners or not enough information,or information not good enough ? What else can BOD do ?

Prax Lindsey and 2 other Prax owned companies are legal entities in their own right,which is why they exist,to separate them from the holding company.Hurricane too is a separate legal entity and is not involved in the administration procedure of the above three.Prax may decide to sell its Hurricane arm if they need cash for its wider purposes and if so the payments to DCU holders may in fact be accelerated

Dealings take place via JP Jenkins

Phone call this morning.He expects deal to close by end of month.It appears that terms are settled but legals and Govt. permissions still need finalising.Aaron optimistic about future.It seems all debt will be repaid ,Egypt kept working,with new partner taking some assets and equity but as takeover rules still apply wont be more than 29%.Presumably exact terms will be published later this month.

Have spoken to Leblanc,deal expected by end of month and he is optimistic for future of SDX with new partner should it go ahead.

Clocked in early today FFX.Do you get overtime ?

Yes if the buy the owning company

AS far as I can tell the above,owner of Hurricane,is not part of the insolvency and provided P6 continues to produce then DCU 's can continue to pay out.Administrators may want to get rid of saleable assets and I think above subsiduary is one but new owners have to abide by the agreement

Senseman,everything that a company gives to its shareholders is their money.Whsre else can it come from!

No FFX why would anyone be locked in ?

The terms of the DCU cannot be altered so unless the legal entity owning Hurricane goes into administration then nothing to worry about.If it does then we are creditors

So it should not affect the DCU's in any way as future ownership probably irrelevant

Yes but FFX is not he is a professional doommonger

Banbury Cross ???

Not cross then ?

SDX are expecting all debts to be covered by a new investor,maybe takeover.I am speaking to Aaron Leblanc next week so should have more news then

Toxic Bull,Aleph are shareholders they may in those circumsatnces take the assets but not the company shares without making a full takeover bid as the takeover Code still applies

Or if new deal eliminates the loan as was intimated to me in March