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I understand the point that traditional investment funds such as Jupiter may have to vote yes, but hedge funds such as Alpine and Polygon are a different beast. Why are they continuing to add (Alpine bought 10 million on Friday, bet they wished they'd waited until today or maybe they'll be in for another 10 million today).

The hedge funds are a lot more nimble and take bigger risks. Will they force a no vote and try to engineer a rescue package. If this company gets the $600M funding then the share price ought to easily double in short order. The hedgies will make a killing. It's going to be an interesting couple of weeks.

www.fundsirius.com - self help cos the board doesn't care

Back on topic

www.fundsirius.com

Spread the word and save our investment

I dont recall seeing a Form 8.3 from them before. Holding 80 million shares and added 10 million on Friday. I wonder what they're up to?

If I had the ear of the Qatari Investment Authority, I'd be suggesting to then that it would be in their best interests to prepare a conditional funding/rescue package in the event of a no vote. The conditions would include sacking failure Fraser, schoolboy Staley, and other senior execs that have shown a willingness to jump into bed with AAL, and to put their own men in charge.

Qatar are in the midst of their own massive construction and infrastructure project to host World Cup 2024. They will undoubtedly have a great deal of experienced personnel delivering this project. That experience could be invaluable to ensuring delivery of Woodsmith. We have the TORP's, we just need to dig to access the resource and put in the infrastructure to get it to the port..

With a Qatari pick in charge I would be comfortable they could manage the project competently and also look after the pennies (most of which would be theirs). The rumour is Fraser and hos crew were splashing the cash a bit too liberally at times.

QIA are a perfect fit.

Is Goodwill in the pocket of Sirius or AAL or both? Interesting that the NO campaign picks up some momentum and the company PR machine goes into overdrive when there hasn't been a peep for months. RNS, phone calls and now a lazy MP that's been of little or no use all along. Where was he when the pre-qualified IPA came unstuck?.

As I've said before, we're on our own here to save our investment. The senior execs at Sirius want to continue to line their pockets with AAL at the expense of shareholders.

The strategic review (if there was one at all) was a joke and the BOD gave up on it on 8 Jan when AAL were forced to break their cover after the Sirius employee spilled the beans to a barmaid in a pub (how's that investigation going by the way?). They were only a little over half way through the review at that stage. It's a joke. They're a joke.

www.fundsirius.com - spread the word.

ffc there may not be 85,000 holders voting but I bet many that have sold out will be taking the survey and would buy back in and participate in a raise given the opportunity - and how many new investors will be recruited by holders that see a good return from the bond and want to help their friends and family recover their losses.

nice to see you're still around tuckupp. We've been truly tucked up here. Let's hope there's one last twist in the tale, then you can get back to your Friday specials

Hi All. How many holders here will vote no and lose all their funds just to spite the BODs. Maybe a few hundred at most.
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Speedy if it was a few hundred the BOD wouldn't be ****ting themselves and issuing scaremongering RNS's; intimidating holders on the phone and putting out articled in the press. They see their cushy arrangement with AAL unravelling and their reaction has been illuminating.

Good question. They shouldn't need a chaperone with them to answer that one.

Good man Belles. You don’t have to be a shareholder (or ex) to express interest in funding Sirius. This would be a great way for friends and family of shareholders to get involved and help out shareholders while helping themselves to a good return on their investment.

The more the merrier. Everybody spread the word and let’s get this done. Then Vote NO and turf Fraser and the rest of em out on their ear.

Calamari, I assume the scam you are referring to is the one Fraser is perpetrating with AAL to relieve shareholders of their shares and thereby deprive them of the substantial uplift when the resource is accessed and the wall of cash materialises.

VOTE NO

Www.fundsirius.com

Your welcome.......
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I think you mean You're welcome.

Feel free to hand over you personal information.
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Thanks for your permission.

IBAB seems to be getting his knickers in a twist over a website that wants to help save holders investment posted on a bb frequented by people to facilitate discussion about their investment. It's like he wants to censor it, which seems the opposite of what this board and posters should be all about.

Very strange, unless he does have an agenda and it doesn't align with the agenda of those trying to save themselves from ruin.

What a piece of work.

IBAB... the site is not anonymous. Take a look. The people running this site are transparent and genuine. Do you want to level the playing field and publish your photo name and phone number.

You really are something else.

IBAB , you're entitled to your view and for the most part you make some rational points (not that I agree with them - they're just your OPINION after all), but I strongly object to the following post -

".....and how much spare cash they have available to invest, to an internet site knocked up in a few minutes by god knows who?"

You know full well that there are very well intentioned hard working holders that are doing all they can to try and preserve every shareholders investment by trying to succeed where the BOD have failed (failed to make a sincere effort once their Aussie mates came along some might say).

To cast aspersions of insinuate the survey was "knocked up in a few minutes by god knows who" is a pretty low blow and I hope those who pay attention to your posts can begin to see you for who you really are. You're not interested in "helping" holders with your "advice". If you were - and considering you're not a holder - you would keep posts such as this to yourself and allow the holders a fair crack at self help.

I would encourage every genuine holder or ex-holder or potential holder to visit the site and take the survey -https://fundsirius.com/survey/ - and share the site on social media with friends, family and anyone else who you think might be interested in helping to save this company and our investment.

I'm glad to have a group working hard to try and provide a better outcome for us. It helps balance the characteristics of people like IBAB.

IBAB - the alleged "know all"

You're good at glossing over the points where the answer may not suit your agenda. You glossed over his solvency point, which wasn't abut the process of insolvency and who manages that process, it was about what funds would be required to avoid insolvency.

Raspberry makes a good point. We know what the co needs to raise to get through the next two years of construction progress. But what we don't know is what amount would be required, not to make progress, but simply to keep the administrator from the door for the next six months. A lot less I imagine. That might easily be raised. Raise it and spend that time clearing out the BOD, scrutinizing the books (there's a lot of talk that Fraser has been a bit profligate with the cash) and putting in place a management board that haven't sold their rear end to AAL and might be independent thinking enough to act in the best interest of shareholders and not be so dazzled by AAL's 19 MiLLION pieces of silver.

I do hope somebody takes up raspberrys suggestion and gets some numbers out of the company. Then we can have a whip round and an EGM, where we VOTE OUT following the VOTE NO

raspberry's post has been drowned out by the Tex and IBAB show. Worth a read for anyone who missed it -

A key question here is what is the strategy of Polygon. They are obviously heading for a 10% holding through CFDs. This is sufficient to block a “squeeze-out” on a take-over but not to block the Scheme where the blocking threshold is 25%. At some point presumably they will show their hand. Perhaps ShareSoc should reach out to them? Depending upon their strategy and unlike in many situations, the support of the PIs could be very helpful to them.

As for administration and liquidation, the BoD have done very little to explain why the company’s solvency is an issue and what is needed to remedy it. This is very different from achieving a strategy of getting the project built or the situation where an operating business is running at a daily cash loss. This is much more like a sophisticated start-up looking at doing a new funding round which needs to be deferred. Just because the company cannot raise $2bn now does not make the company insolvent. The BoD have not explained what it would take to put the company into a holding position. This is very relevant given the approach of the BoD and its advisers - adopting a heavy-handed and a threatening approach to a ‘no’ vote. In a normal EGM voting situation with a threshold to cross, this approach might not cause a BoD any difficulty. A Scheme is different. It is a Court sanctioned process and following a positive vote, the Court will need to consider whether stakeholders have been treated fairly In approving the Scheme. If appropriate representations are made to the Court, these will need to be considered. Any shareholder should have a right to be heard. This is something that ShareSoc could chose to do on behalf of PIs. Ultimately the court could refuse to sanction the Scheme.

Suggestions therefore are: 1) reach out to Polygon and find out its strategy; 2) advise the BoD and its advisers that their threats are inappropriate without significant additional information being provided as to solvency/putting the company Into a holding pattern etc etc and that these issues will be drawn to the attention of the Court at the appropriate time; and 3) form an action group (or use ShareSoc) to procure funding and engage a decent lawyer to bring these matters before the Court - this will be needed anyway when PIs decide to sue the company over last year’s equity raise - for which litigation funding may well be available.

That’s a cracking post from raspberry

You’ve lived everywhere been a marine a telecom engineer and general all round know it all. What a hero.

I lived in York too once upon a time. Nunnery Lane. Fond memories. Go feck yourself IBAB you know nowt about nowt.