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Thanks to chester9 on the blue board for this one:
Hhttps://www.voanews.com/a/argentina-s-president-elect-wants-to-privatize-state-owned-media-public-companies-/7363247.html
Previously declared interim dividend for the year ending December 31, 2023 of 6.25 US cents per ordinary share to be paid on December 7, 2023 to shareholders of record as of November 10, 2023.
For shareholders electing to receive their dividend in pound sterling, the interim dividend is 5.018089 pence per ordinary share, based on the exchange rate of £1 = US$1.245494 set on November 15, 2023.
Merry Christmas to everyone.
And ....... if the new proposed date is accepted by Judge Preska (10 Jan 2024), both the old and new Argentinian Presidents/Governments will not be able to claim that they were not given a fair crack of the whip in any follow on court proceedings.
The noose tightens even further.
A reminder from Seb Maril:
This Thursday, Argentina will submit a document in favor of waiving the guarantee bond to prevent the attachment of sovereign assets. Plaintiffs will reply on 2 NOV and Argentina will have the last word on 7 NOV. Decision soon afterwards.
https://twitter.com/SebastianMaril/status/1717139648642679267
It was reported today that the USA short interest fell from 2.48M to 2.13M shares on 13/10/23. This action may go some way as to explain why the SP had such a good day after the recent dips.
Onwards and upwards.
More so and in my view, it also suggests to Judge Preska that YPF will still be involved in the appeal case and that YPF have assets which could/should (as by default all YPF assets now belong to the Argentinian Government under the re-nationalization) be considered when she determines the legal requirement to post a security bond or not.
In essence and again in my view, Burford are subtly applying pressure on the Judge, YPF and on the appeal case to assert the legal and moral high ground here.
That makes it pretty clear then:
https://twitter.com/SebastianMaril/status/1712231545069588790/photo/1
Check out his latest tweets. Argentina claiming that they can't pay judgement:
https://twitter.com/SebastianMaril
To may need to translate this:
https://www.lanacion.com.ar/economia/caso-ypf-empieza-la-danza-de-los-embargos-millonarios-y-un-periodo-de-riesgo-para-la-petrolera-nid28092023/
Https://twitter.com/SebastianMaril/status/1707549493699178544/photo/1
Twt,
There's a gap to fill between 8th Sept and 11th Sept (which opened after we got the YPF ruling when the SP spiked). Gap goes down to £11.15 which will need to be filled before the SP can regain momentum and go forward. Hopefully the gap has now filled when the SP went to £11.18 a few minutes ago then quickly bounced back to the £11.24+ range.
If not, it's more of the same until the MM's (algo's) decide that that's enough.
USA short has gone up but as for the UK short, I am yet to see any evidence of a change in position.
Twt,
If I understood it correctly, they seemed to think that seizing state owned sovereign assets was dubious at best but seizing (freezing) trading companies which were run by the Argentinian Government was a real goer. In doing so Burford would make it very difficult for them to trade in the real world and also limit cash flowing into/out of the country.
I also liked the bit about an upfront settlement and then further annual payments as part of an agreed settlement. All would be doable with a loan from the IMF and if written into the deal/contract, would revert back to the $16Bn damages (full award minus any payments made) if Argentina defaulted.