Mid Day response to This morning's thoughts14 Jan 2021 12:22
SC "Be assured it wasn’t a half-hearted advanced ramp in case of a duster"
I used the word "rampy" in the context of your > £350,000,000 MC (7p a share) ex cerp assets, it was not meant to be taken literally that I thought you were a ramper. But honestly if you think the ex cerp assets are ever going to be worth 7p into an excess of over 5 billion shares, then good luck.
"the date on which BPC may be required to make a reconciling payment to the Investor is extended ….. to 16 April 2021, this extension allowing a considerably longer window for the determination of the need for a reconciliation payment (if any), which BPC CONSIDERS TO BE TO ITS ADVANTAGE….’"
Of course it is advantageous the date has been moved from February to April !!! I don't get the point.
"1. If Lombard has the right to dump all its shares unconditionally (whether duster or not), why is the extension to 16 April of any relevance whatsoever? Why is it ‘advantageous?’"
The advantage is they can hold for results and get even more than the 115% guarantee. I feel bad answering this one because I have the advantage of the RNS today which shows they have been selling. But nothing as yet to show they took the call. At the end of the day (not literally) they get a minimum 115% as long as they get rid by 16th April.
"2. Nowhere in the two Lombard RNSs, does it state in the event they do not make a 15% ROI, BPC must make (or be liable for) the reconciliation payment within 24 hours."
You would need to show me where I said they would have to make the reconciliation payment in 24 hours, I did not, but they will have to make that payment at some point, I think they call that a debt.
"I did not write or contribute to Monday’s well written article as alleged."
Anyone who accused you of that must be as dumb as a box of frogs, for several reasons, the writers name is in the article, the writer is a known holder/poster on another group page. And even my post was titled Not SC. For my part I will admit that I titled it that because I felt personally it was a better communication than your open letter sent by one of your friends here.
I do respect everyone's opinion here with the exception of some of the trolls, but if I see nonsense posted and I feel the need I challenge it. You should not worry, you have been here a long time and have a big follower base.
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