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Bob, well-meaning but:
1. probably illegal breach of Financial Promotion Regulations
2. crazy because company needs £3bn not £500m
3. you will never get to £500m
4. even if you do how do you know people are genuine (some will confirm interest just to create more chaos - there are some warped people on here).
5. looks desperate and is noisy irritation to people who are doing the serious stuff.
This idea is in the same category as this awful petition. The govt could not care less about anyone on this board or any of the PIs and why should they. Thank god they dont and we live in a democracy where we can decide to invest too much in a company and then watch it slide into the ground. It was our decision to make the investment and - at the moment - it looks like a mistake.
I was posting pretty frequently on here but have given up. Nobody on here has the faintest idea what is going on or what will happen. Will he strike a deal with a strategic partner - probably. Will it wipe us all out to next to nothing - probably not. Will it leave us with a long slog and many years waiting and uncertainty to get back to what we invested - definitely.
What this comes down to now is whether you think Chris is a Battler or a Bottler. I reckon hes a the former, I reckon he's a streetfighter who will leave nothing behind in finding the package. Thats not just because PAAA once met him at an AGM and liked the cut of his jib.
The project is definitely worth more than the Share Price right now. My view is that the future depends entirely on whether he gets
1) No offer from strategic partners - in which case we can write the lot off
2) One offer from strategic partners - in which case we can write almost the lot off
3) Two or more offers from strategic partners - in which case he can negotiate and we get something back but have to wait a few years.
Unless you are trading this then there is no quick return to anything like where most of us average.
I am holding because of the reasons given above and I have lost quite a bit and whats left I might as well write off as cash in.
Not correct - you could not buy 50% in the open market without pushing the price up !
It would not all be at 4p.
Also that would trigger a mandatory bid under Rule 9 of the Takeover Code at the highest price over last 12 months.
So only way for a Strategic Partner to cut a big chunk is to strike a deal with the board. Not through open market.
Yes JPM need to be terminated they have stuffed this terribly and then saved their own skin at the death.
Brexit? Who knows. CF talked about absent brexit uncertainty would have been different. Maybe the six months is to get us out of EU then govt will have a freer hand.
I am a remainer but if that's the case then let's leave now.
I don't believe there is someone waiting in the wings Bellers and, if there is, their price will be brutal. Similarly I don't think it's quite all over. Nearly but not quite.
Bellers Seriously. We've all had enough of the nonsense, please just give it up now. SG
I agree totally. It always worried me that JPM were so conflicted. On one hand marketing bonds as a condition to RCF. On other hand the lender o. The RCF.
However if you listen to the presentation CF did give good reason as to why JPM refused to allow warrants to be attached.
CF was quite clear that, with warrants or IPA (either one) the bonds would have gone.
I meant you were right about the experts. I don't necessarily think administration is the most likely option. I will get shot for saying that on here though
Yup bang on KOH my friend, bang on.
Have you listened to the presentation yet?
I have some thoughts but will hold off for a while until this board thins out a bit. Assume you will still be here?
Well yes I accept that but I think JPM have as much to answer for as anyone else here.
So nothing is what you are saying.
Been in for 2 yrs. So today was awful but what has changed from 2 yrs ago?
Leave him alone. He has done nothing wrong.
Groover
That's a horrible article. Read between the lines. We were legged over by JPM. Govt not interested Capital Markets solution unlikely and Strategic Investor will cost the earth given the desperate state the company is in
What is there that's good in that article.
GK - 606 posts on here today (some of them mine) and yours is the only one with any real insight and intelligence.
Good work. it will get buried with rubbish - but everyone should read GK's post.
and you were expecting him to sound upbeat ?????
Keep the faith :)
Maximus10
I cant join - if you are listening and in front of screen pls post any interesting bits.
Or anyone else.
SG
Well it wasn't Bob's cat. All the weasels who've jumped on here today went understand that. But to everyone else - hang in there. Let us know how the 9:30 goes - I can't join
You want to know the key bit in the RNS?
Company wanted to offer warrants and JPM said no. I think they changed their mind on the £2.5bn and put a bullet in stage 2 because of that. So probs did not peddle bonds too hard either. And they are supposed to be on our side?
Luke
Sorry I am a LTH but must call out rubbish when I see it. We have no money my friend..how do we get the stuff out the ground?
Don't be daft. Come on. Don't say that.
Take note you weasels who come gloating on here today.