I could well be wrong but I thought the PEPR was lodged last year and the government responded. (See Sept 10th RNS)
What we're waiting for now is for SML to reply and answer the questions that the government posed.
I've no idea why it takes so long to reply to some government questions. If it was my business I'd have replied asap. Maybe asap equates to the end of March. Who knows. More patience required
I'm pretty sure it's a little more complicated than that.
I think if HL themselves go bust you're cash is safe up to £85k.
They do distribute your cash across multiple Banks and if any one of those banks go bust then your funds that will have been shared out amongst those banks is safe up to £85k in each bank depending how much of your cash has been placed with each bank. Be careful with this one though as I believe it's your total exposure to the relevant bank that gets used. So if £50k of your cash has been stored in Barclays by HL and you have your own Barclays account with £50k in it your only covered up to £85k for that institution no matter how your money got there.
So it depends who goes bust and which institutions they have placed your cash with. So almost impossible to predict unless it's HL themselves that go bust.
I'm not sure why your post was deleted but the issue I had was that your post implied a deliberate intent to mislead rather than someone genuinely trying to explain the facts as they perceive them at a given point in time.
I'm not sure it was Peter that made the grand statements you're referring to but either way if you don't think he believes what he says to be true at the time he makes the statements then it may be time to move on!
i.e. He believes right now and stated that there will be no bonuses this year. In the unlikely event that we 10 bag from here (yes I make myself laugh too) in the next 3 months he could well be wrong but at the time he meant it and believed it to be true.
I for one am now prepared to move forward on a slightly more positive note.
Yes I was disappointed that 2019 wasn't our year. Yes I feel a little let down by unfulfilled grand statements. Yes I didn't agree with the 2019 bonus (it could have been refused whether it was cash or not). Yes some of the decisions involving AB seem a little incestuous at times.
Given all of the above I still think this is an interesting (if not as exciting as it was) place to leave some of my money for now.
Peter genuinely appears to have shareholders interest at heart and I'm happy for now for him to look after my interests.
Seems counterproductive hanging around for your 50% rise while commenting negatively about the progress.
I have been equally negative and critical recently of some of the Directors decisions but I believe this can be turned around and I still have confidence in the BoD to do it otherwise I'd be cutting my losses and trying to make them up elsewhere!
We paid a lot of money to buy the remaining 50% of Hanns Camp that we didn't own so we could progress it at our own pace and then we mothballed it so there will be no progress at Hanns Camp for quite some time!