Member Info for Manyana

Even Larry's 5% will be worth it just to get rid of you.

Once an imbecile always an imbecile and a laugh to think you actually live in Bandon in Cork.

Old saying: "Why do Cork men have red necks? Because their fathers keep slapping it saying "Get up to Dublin".

But that can't happen to you as they would never allow you on a bus or a train with a strait jacket on.

I know that tomorrow ghosts and goblins will invade the land but I did not realise that a real ghost and his goblins were going to appear.

A report in today's Irish Examiner says Tony O'Reilly and John O'Sullivan with their company dCarbonX are about to reappear with a plan to store gas and hydrogen in the exhausted Kinsale gas field.

https://www.irishexaminer.com/business/companies/arid-41258251.html

dCarbonX was set up by O'Reilly, O'Sullivan and McCourt when they left Providence/Barryroe all those years ago after making a dog's dinner out of Barryroe.

Perhaps Larry, when he gets his hands on Barryroe will join that gang of "Usual Suspects" and put his tuppenyworth into this "joint venture".

Perhaps they will disappear the day after tomorrow when all ghosts and goblins go back to where they came from.

He probably resides in Mental Health Centre, Bandon where they have a special centre to treat schizophrenia.

When you realise that one of the main symptoms for schizophrenia is "persistent delusions: the person has fixed beliefs that something is true, despite evidence to the contrary;" and you weigh up imbecile's ramblings you see at once that this is exactly what he is suffering from.

I am looking forward to Larry's 5% over the next ten years as that will probably be worth more than my holding in Barryroe and, if nothing else, we can at least get rid of this nincompoop who persists in talking through his rear end.

"Hasta la vista", doze'ball and good riddance and stop crying over your losses in crypto.

I thought you said you lived in a sunny place on a beach. What a liar.

If I had to catch a bus to meet you where would it take me given you live in exotica? Do you take flying busses?

Proven, once again, to be a child or an imbecile.

Longera*se has nothing to fear from me.

I would never harm a child or an imbecile so he is safe.

Who says the court will approve the Proposals?

The following statement should read "If..." and not "When..."

When the Court confirms the Proposals (with or without modification), the Scheme shall be binding on the shareholders and creditors of the Company.

"(with or without modification)"... what does that mean? It means the court may decide the deal is not in favour of the shareholders when a majority voted against it and send it back for revision.

There are numerous cases of examinerships which have been refused at the court stage. Why is Barryroe not a possible case? The judge could decide that it is not fair to the shareholders and demand it be modified to take account of the shareholders.

It is not over yet even though Longera*se think it is.

What are the chances he is going to ask for an extension based on the shareholder's vote that a modified solution is to be found with new negotiations with LG? Otherwise, why is he back so soon?

If the court approves Larry's scheme, the voices of the shareholders will have been "blowing in the wind".

If the shareholders voted against the deal you can be sure the big shareholders voted and that would have definitely sunk Larry.

Larry is a cunning old fox and has been playing this game for years and must have realised that this offer was just the first throw of the dice. You can be sure he will be back with a better deal as it is clear, under Section 541, that the examiner has to throw this deal out.

As Messer says, his proposal for a Lansdowne/Barryroe merger would be a winner and I suspect he will be back with something like that to tempt us shareholders to a better place at the Barryroe table.

Interesting times ahead.

Well done messer3. Thanks for that information.

Good to see that the shareholders saw this as a raw deal and the examiner agreed.

It is now back to the drawing board for Larry and hopefully your Barryroe-Lansdowne deal becomes a runner. That would really scare the bejas*s out of Ryan.

Obviously the Barryroe-Lansdowne deal could not be part of the deal initially but it is now up to Larry or other to pursue such a possibility.

Thanks again, for the information.

I suggest interested parties should read "SWIZZ"'s item on the Lansdowne BB where he says a reliable source says:

Creditors voted for the deal but shareholders who voted - voted against but percentages were not revealed.

So, it is now up to the courts to decide.

Does anybody know if yesterday's meeting has any impact on the fact that Lansdowne shares are booming today, already up over 15%?

Does anybody know why the share is doing so well today? Has it got anything to do with the Barryroe meeting from yesterday?

Perhaps if any joint shareholders attended yesterday (little hope) they could tell us what happened.

As I pointed out on Barryroe board nothing can happen, irrespective of the votes, until the court decides.

So, does anybody know (and avoid Longera**se who is just an annoyance) exactly what happened yesterday and why Lansdowne is doing so well today?

Since Longera**le claims he was in attendance perhaps he can tell us how the votes went?

Without any verification, even if the majority voted against it could not be decided at yesterday's meeting. It would be up to the court to decide that the examinership had failed and that an alternative had to be found.

Perhaps people should read again section 541 of the Irish Companies Act. specifically note:

At a hearing under subsection (1), the court may, as it thinks proper, subject to the provisions of this section and sections 542 and 543 —

(a) confirm,

(b) confirm subject to modifications, or

(c) refuse to confirm,

the proposals for the compromise or arrangement concerned (referred to subsequently in this section as “proposals”).

So, nothing in stone until the court case which is specified to be by the 27th but could be longer if the court decides the deal is not fair to the shareholders.

The fat lady is not singing yet but good old Longera**se is croaking as usual.

You are mentally unhinged and soon to be cancelled

If Larry Goodman wants Barryroe for renewables why does he need to take over the company? Why not just start a new company.

Obviously he sees the tax benefits in getting hold of Barryroe so if they are a benefit to him surely the rest of us shareholders should also benefit.

After all, many companies had used debt as a tax benefit and Barryroe has them especially if he reregisters it in Jersey where he can also take advantage of the $200m plus all consequential losses just as Lansdowne are doing with their 20%

Are you sure you are looking at the correct Company Law. There are differences between the UK and Ireland.

Here are the Irish ones.

https://www.irishstatutebook.ie/eli/2014/act/38/section/541/enacted/en/html

https://www.irishstatutebook.ie/eli/2014/act/38/section/542/enacted/en/html

Note:

The court shall not confirm any proposals unless—

(a) at least one class of creditors whose interests or claims would be impaired by implementation of the proposals has accepted the proposals, and

(b) the court is satisfied that—

(i) the proposals are fair and equitable in relation to any class of members or creditors that has not accepted the proposals and whose interests or claims would be impaired by implementation, and

(ii) the proposals are not unfairly prejudicial to the interests of any interested party,

+++++++++++++++++

Note "equitable in relation to any class of members or creditors". Shareholders are members.

Since we were sent voting requests why bother if shareholders do not count?

This is far more complex that just a shareholder meeting. It is a court case subject to Sections 541 and 542 of the Irish Companies Law (2014) and should be read in conjunction with the RNS. The important bits are:

https://www.irishstatutebook.ie/eli/2014/act/38/section/541/enacted/en/html

https://www.irishstatutebook.ie/eli/2014/act/38/section/542/enacted/en/html

The reasons why it will be rejected, based on those Sections are as follows:

(c) any creditor or member whose claim or interest would be impaired if the proposals were implemented;

(ii) the proposals are not unfairly prejudicial to the interests of any interested party,

So, technically it does not need a majority vote. It only needs "one member" to object and every one of us shareholders is a "member" and each of us is, of course, "an interested party".

I have already voted against it by online and proxy, having an internet connection to Compserve, so even that little bit kiboshes the proposal. Larry will have to come back with something better if he wants to get hold of Barryroe even if it is just to satisfy me.

So, all I suspect here is that Larry is testing the water and this was just a starter for ten.

It was clearly stated in the EU directive that the money issue was a suggestion and not a directive.

Therefore Ryan to invoke it knew it was a matter to be decided by law. He took the chance that Barryroe would not have the money to fight such a case hence his using it to quash the application but Larry definitely does.

If Larry et al. decide to fight the case, Ryan will back off immediately and will therefore have to approve the appraisal.

The only issue is Larry is trying to get Barryroe on the cheap to the detriment of the shareholders. I, for one, think that is bad form (especially for an 86 year old who will probably be dead by the time the 10 year "free gift" expires).

He would be well to leave his fame in lights like recently deceased Chuck Feeney who donated billions to good causes.

Note: https://www.bbc.co.uk/news/uk-northern-ireland-67059503

If the deal on the license was only prevented based on financial issues surely Larry has plenty wherewithall to satisfy that requirement given that it would be about €150m and he has billions.

He would not have to pay that given he had already agreed to underwrite the appraisal well for €40m. He only has to prove he has the financial muscle as it was a red herring "caught" by Ryan and is still a legal issue as to whether it is legitimate or not.

If he chose to say he would sponsor the 3.5 times then Ryan would not have a leg to stand on and the appraisal well could be developed at an exposure of €40m which could be raised through a loan or share issue with Larry's guarantee.

The issue is the deal being proposed giving Larry total control for €6.35m. That is an insult to every shareholder in Barryroe but may just be a ploy and all will be revealed at the 24th.

I cannot see this deal being accepted by the court even if it gets some approval at the meeting.

According to the proposal it is subect to Articles 541 and 542 of the Irish Company Law.

Two items in 541 and 542 says the deal will be rejected by the courts if:

"Any creditor or member whose claim or interest would be impaired if the proposals were implemented"

We shareholders are all members and we would be "impaired" by the proposal so it has to be rejected by the courts.

Is Larry just testing the ground with this proposal? Looks like it to me and he will have to come back with a better offer if it is to be accepted.