RE: Keep Your Eyes On The Prize6 Oct 2023 17:57
Mafee...
"Till then, I am out. I will stay on the sidelines, say whatever I want to say and if it gets there buy back in"
Makes you sound like are trying to point out any negative in order to get folks to sell for you to start buying, what kind of logic is that.
Regarding your thoughts on p107/108 of the prospectus... lets simplify the gobbledegook;-
Subject to the right of each Bondholder to exercise its conversion rights, by giving not less than 30 days and not more than 45 days notice.
The Company may at ITS option (the “Company’s Option Notice”) redeem ALL, but not SOME of the Bonds by the CASH payment (on the date (the “Company Option Redemption Date”)
(the “Company Call Early Redemption Amount”) in respect of each Bond outstanding, at ANY TIME on or after the date falling six months after the issue date. (Bonds are older than 6 mths)
The value of a Bond as determined by the calculation agent, not ending earlier than 7 dealing days prior to the giving of the relevant Company Option Notice,
This reads to me that "IF" COPL can get his hands on a shed load of cash he can effectively give bondholders notice "Company Option Redemption Date” with, immediate effect, and value is calculated on the past 7 days average.
So if all goes well with this fictitious JV partner, who is sniffing around a huge imaginary oil find, smack bang in the middle of a GIANT oil field in a safe jurisdiction that are forward thinking enough to permit carbon storage.
Stop trying to scare the horses and get on....
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