Member Info for MadChatter

Interesting reading last night the history of the cash calls here in the old RNS. It's been one very long nightmare for the BOD trying to get money off GSPC. After years of wrangling they gave them a clear 60 days notice to pay up before they started legal proceedings. So they clearly have no money, as if that wasn't already obvious, as they would have pulled a deal of some sort in that period.

Say OEX get 100% because arbitration has not occurred, and GSPC have not deposited any money, can we still pursue them for past monies owed regardless?

That was what I was meaning by option 2 below; that we get 100% by default, but agree with them we will not pursue them for historic monies owed. So they are millions better off in cash terms as a result of that sort of deal.

I'm actually playing devils advocate here. Neither of these are as favourable outcomes to OEX as getting the cash or 100%.

But the question was asked earlier what sort of deal could GSPC pull.

There are two deals I would think would be possible here.

1. GSPC agree with OEX to sell their entire stake to a firm who is not state owned, preferably one of OEX choosing. Thus getting us active JV partners, (but not 100% to sell). Or a rich Indian billionaire etc.

2. GSPC agree with OEX not to go to arbitration, but not to pay the £3m either. So at least they get something out of it.

Unless they've been working night and day behind the scenes they will run out of time for option 1.

A free carry for what?

Doing nothing, not participating in cash calls.

If they don't abide by the terms of the original JV agreement they shouldn't get any money at all out of it.

That is not what arbitration is.

Arbitration you fight it out amongst yourselves and then inform the judge of the outcome.

I'd say 7am on the 16th if there has been no confirmed deposit then there is no arbitration. Therefore an RNS needed.

If they do deposit the funds, I think we still need an RNS to state that.

There were some pretty hefty buys this morning, if we see some large delayed ones I'd be surprised if we don't see a TR1 pop up.

But will only buy on news, as this is a large rise with nothing behind it (officially) so far.

Might we FINALLY be past the overhang now?

I would say, compared to the vast majority of shares this has to be amongst the most likely to bag from here over the next 5 trading days.

The person who bought £100k before suspension, around 0.23 must be pretty chuffed now.

@Retour Wait, they have officially said they don't want to invest more in cambay? Then they've just given it to us?

Bear in mind that during arbitration gspc are legally obliged to put up their share of cash calls. Which they have no money for.

That's a very interesting article. Those saying that gspc/ gujarat government would just offload their 55% to another state owned company.... Which one!? They are all broke and in debt!

For all these large profit taking sells, the price isn't really dipping into red. So it tells me there is still a lot of buying going on.

Agreed. I guess just switch off and come back in a few hours

If this spiked to 1p today it would probably hover around that all next week. these incremental steps are allowing some people to top slice and take profits along the way rather than all at once. So hopefully go higher as a result

Anyone else thinking this will put up one hell of a fight?

You need to reduce to 2 decimals and go to say 1.5p Babbler ;)