Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
.....I will leave you to it each to there own...
I will leave you to it each to there own...
Excuse me Who?
After counsel said Mr McAteer wanted an extension of time to pursue and finalise an investment agreement and survival proposals, the judge agreed to extend court protection to May 12th.
Irish times 5 hours ago that would of been at 3.30pm..
REGULATIONS OF SUCH JURISDICTION. 8 April 2016 SUNNY HILL LIMITED ("Sunny Hill") Purchase of 30.56 per cent. of Petroceltic's Senior Bank Facility from certain members of the Banking Syndicate by the Worldview Economic Recovery Fund Sunny Hill, a company wholly owned by the Worldview Economic Recovery Fund (the "Economic Recovery Fund"), is pleased to announce that, on 7 April 2016, the Economic Recovery Fund acquired 30.56 per cent. of the Petroceltic Group's outstanding indebtedness in respect of the group's Senior Bank Facility from the remaining members of the Banking Syndicate (the "Second Debt Facility Acquisition") at a discount to face value. Following the Second Debt Facility Acquisition, the Economic Recovery Fund is now interested in 68.0 per cent. of the Senior Bank Facility. Capitalised terms or expressions used in this announcement have the same meanings as given to them in the Offer Document dated 24 March 2016, unless the context requires otherwise. - ENDS -
http://www.lse.co.uk/DirectorsDeals.asp?shareprice=UANC&share=urbanandcivic
Company's web site right hand corner click on Board Response Circular. 3. Onwards ....
I have 228,000 if you are interested 0.36 pence is my price.. 36 pennies
Like I said to you previously, shareholders collectively mean alot. That's what you need to do................. 1 2 3
Where has the market cap cash gone? Good nigh good morning for whatever times u live in.
Is this legal Why wasn't this announced.
BACKGROUND Strategic Review On 23 December 2015, Petroceltic announced that it was initiating a formal strategic review of the Company's business and assets with a view to considering all options to maximise value for shareholders and stakeholders (the "Strategic Review"). As part of the Strategic Review, the Board, together with its advisers, engaged with interested parties on a number of potential transactions including, inter alia, a farm-out or sale of one or more of the Group's existing assets, a corporate transaction such as a merger with a third party or the sale of the entire issued, and to be issued, share capital of the Company and the raising of capital in the form of debt and/or a subscription for new ordinary shares in the Company by one or more third parties. The Strategic Review was announced following a period of exceptionally challenging market conditions, especially for smaller oil and gas companies such as Petroceltic. Specifically, in its 2014 annual financial results released on 29 June 2015 and its 2015 half year results released on 30 September 2015, the Company stated that a combination of adjustments to reserves arising from the 2014 competent persons' reports for Egypt and Bulgaria, the drop in oil prices and a reduction in capital investment programmes in relation to the Group's assets in Egypt and Bulgaria had impacted on availability under the Group's Senior Bank Facility during 2015. These circumstances had led to the requirement to make material repayments, which the Group has not to date been in a position to satisfy and other breaches to the covenants of the Senior Bank Facility, which is secured over substantially all the assets of the Group. On 3 March 2016, following the announcement on 26 February 2016 by Sunny Hill of its intention to make the Offer, the Company announced that it continued to have a constructive dialogue with its Original Lenders, who had supported the Strategic Review process through their provision of short-term financing and on-going waivers in respect of, inter alia, the requirement for the Company to make repayments under its Senior Bank Facility. The Company also noted that the then current waiver of repayments under its Senior Bank Facility would expire on 4 March 2016. The Company further stated that, based on relevant factors prevailing at that time, the Board had concluded that it was not possible at that time to give a firm recommendation to Petroceltic Shareholders to either accept or reject the Offer, once made.
Under the Irish Companies Acts, a petition to appoint an examiner can be presented by a number of parties, including any member of a company holding at least 10 per cent. of the paid up capital of the company. This was the basis on which Worldview EHS International Master Fund stated that it presented the Petition to Court on 4 March 2016. Following presentation of the Petition, the Court fixed 4 April 2016 as the date for the hearing of the Petition.
On 4 April 2016, Sunny Hill announced that, on 2 April 2016, the Worldview Economic Recovery Fund disposed of 32 per cent. of the Petroceltic Group's outstanding indebtedness in respect of the Group's Senior Bank Facility to an independent third party investor and that the Worldview Economic Recovery Fund remains interested in 37.44 per cent. of the Senior Bank Facility. Worldview Capital, a 29% shareholder, has acquired 69% of Petroceltic’s debt and it intends to propose a restructuring involving a debt-to-equity swap Sold part of the senior bAnk facility
See the word by VIRTUE .................has it? Seems they have planned this out or the old boys have got dementia or enjoying sucking d..k