Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
As I have said before investors and funds made huge decisions on buying and selling this stock, without being given the full information they were entitled too.
Is swindled to strong a word?
Yet some in the City question ARCM’s motives. In December the hedge fund was forced to disclose a secret 17% short position in Premier shares, unknown to the Premier board and fellow investors. Rivals have urged the Financial Conduct Authority to investigate.
The hedge fund claims it is a benign hedge on the massive Premier IOUs it owns (indeed the $455 million of debts dwarf the $190 million short position) but analysts say ARCM’s main motivation now is to kill off the deal so it can stem losses on the short.
Broker Numis said the hedge fund “lacked credibility” for attacking Premier but failing to mention the short.
One Premier shareholder also told the Standard ARCM was using its position as creditor to “screw equity holders” but had sympathy for this approach. “They are making their own catalyst.”
Premier has a myriad of other lenders alongside ARCM including Lloyds Bank, DNB, Deutsche Bank, Fortress and Verde (the latter two hedge funds not known to be shrinking violets).
Creditors will meet next Wednesday to vote on the debt extension plans.
Premier’s secondary debts also trade at 100p in the pound, a sign that impending debt Armageddon is not on the cards.
If the deal is so bad, as ARCM insists, then why do most of Premier’s lenders back the idea?
Market sources believe ARCM has already made big profits on the debt portion — buying as low as 55p in the pound — but now wants to preserve that gain by reversing losses on the short made when shares rallied. To do that it aims to cast doubt on the deal.
It’s hard to fathom whether ARCM is a genuinely concerned investor ringing the alarm bell or a cunning hedge fund looking to protect its own economic interests. Perhaps it is both.
Insider Knowledge pushing the share price??
I have always thought,while mainly agreeing with you,that the fresh meat and fish stalls falls well short of what Waitrose offer.
Cheers Texan
Anybody got the full text?
https://www.telegraph.co.uk/investing/shares/questor-premier-oils-bond-changes-great-news-shame-private/
Down to 18.77%
Fund % Short Change Date Changed
Connor, Clark & Lunn Investment Management Ltd 1.17 -0.08% 8 Jan 2020
Whitebox Advisors LLC 0.75 -0.25% 7 Jan 2020
Asia Research & Capital Management Ltd 16.85 0.00% 5 Jul 2019
Total 18.77%
https://www.cityam.com/premier-oil-creditor-doubles-down-on-opposition-to-acquisition-plan/
Anybody heard any news on ZAMA sale?
It should not have been needed for ARCM to be reported.
This is the problem with all regulators who are reactive instead of proactive.
This has been widely reported.
The FCA have been asleep.
Will a spokesperson for the the FCA be called to comment on this case today?
As I have said before investors made decisions to buy/sell PMO shares, without having the knowledge, of this massive short position.
https://www.asx.com.au/asxpdf/20200115/pdf/44d8plv9mlrwf6.pdf
All reducing bar?
Fund % Short Change Date Changed
AHL Partners LLP 0.59 -0.08% 9 Jan 2020
Connor, Clark & Lunn Investment Management Ltd 1.17 -0.08% 8 Jan 2020
Whitebox Advisors LLC 0.75 -0.25% 7 Jan 2020
Asia Research & Capital Management Ltd 16.85 0.00% 5 Jul 2019
Total 19.36%
Apart from the obvious they are all down!
Connor, Clark & Lunn Investment Management Ltd 1.17 -0.08% 8 Jan 2020
Whitebox Advisors LLC 0.75 -0.25% 7 Jan 2020
AHL Partners LLP 0.67 -0.10% 17 Dec 2019
Asia Research & Capital Management Ltd 16.85 0.00% 5 Jul 2019
Total 19.44%
Tullow discussed Lake Albert blocks with Congo’s government.
https://www.bloomberg.com/news/articles/2020-01-09/congo-wants-to-sell-gertler-s-oil-blocks-on-ugandan-border
Down Again except for ARCM.
Fund % Short Change Date Changed
Connor, Clark & Lunn Investment Management Ltd 1.17 -0.08% 8 Jan 2020
Whitebox Advisors LLC 0.75 -0.25% 7 Jan 2020
AHL Partners LLP 0.67 -0.10% 17 Dec 2019
Asia Research & Capital Management Ltd 16.85 0.00% 5 Jul 2019
Total 19.44%
"Premier pointed out that 40 out of its 41 creditors have given the refinancing plan their blessing"
Shorts are down 19.77%
ARCM will soon be on their own.