Member Info for Tom666

Https://africa.businessinsider.com/local/markets/botswana-south-africa-and-drc-on-standby-as-reports-show-us-has-only-two-months-worth/l8t4fjt

Zim corruption becomes the gold standard.

https://www.newsday.co.zw/opinion-analysis/article/200010401/zim-corruption-becomes-the-gold-standard

Candid Comment: ZCDC impasse bad for Zim reputation.

https://www.newsday.co.zw/theindependent/opinion/article/200010170/candid-comment-zcdc-impasse-bad-for-zim-reputation

THE Chiadzwa Community Share Ownership Trust (CCSOT) has petitioned a global mining watchdog, Initiative for Responsible Mining Assurance (IRMA), warning that Zimbabwe’s gems could soon be classified as ‘conflict diamonds.’

https://www.newsday.co.zw/theindependent/local-news/article/200009821/chiadzwa-community-petitions-global-watchdog

Anyone been tracking developments in Zimbabwe at present with Al Jazeera expose on Zim gold smuggling?

Government being a little pre occupied seems an understatment at present.
All over media platforms etc.

https://www.newsday.co.zw/editorials/article/200010433/rbz-has-a-case-to-answer

https://twitter.com/AJIunit/status/1646782750043652096?t=Mlji5o7tzR67OlN4oQCdyQ&s=19

https://www.aljazeera.com/news/2023/4/14/six-secrets-uncovered-by-al-jazeeras-gold-mafia-investigation

" Lawyer Jonathan Samukange said he has requested to collect the parcel in 2018! "

Probe was confirmed by one of Zimbabwe's top lawyers Jonathan Samukange and members of the investigation teams including the Special Anti-Corruption Unit.

https://www.pindula.co.zw/Jonathan_Samukange

http://www.zim.gov.zw/index.php/en/my-government/government-ministries/commissions/430-zimbabwe-anti-corruption-commission

Thank you ASI .

Anyone got a subscription to this Zim publication?
10 hours ago

$US4M Diamonds vanish from vaults .

The Zimbabwe Independent this week pieced together events leading to the gems’ alleged disappearance at the hands of authorities.

https://www.newsday.co.zw/theindependent/

You deserve a poem for that post Terry well done you!

REMEMBER WITH AN EQUITY SWAP TR-1 ( From Fridays RNS) NO ACTUAL SHARES GET PURCHASED.

Unlike what the ramping airhead are telling you!

Wonder if Capstone Investments will be the new ATLAS in a couple of weeks when £5m debt is due to be paid?

Roses are red
Violets are blue
Take off those rose tinted glasses
And your money will stay with you.

WITH AN EQUITY SWAP AS PER TR-1 RNS NO ACTUAL SHARES ARE PURCHASED HMMMM.

Taken from a poster ADVFN re Fridays RNS TR1 Equity swap.

"No company is going to invest £690k on a whim in an eternal loss making AIM outfit like VAST without some sort of assurance. What happens if Zimbabwe don't deliver the diamonds or work at BP has to stop for whatever reason, the shares could halve or even worse retreat back to 0.18p which is where they were before the 'diamonds in the vault story.

Let me explain what's happening and why an equity swap was used to invest instead of a direct investment in the company's shares. I stress this is just my interpretation of what I think is going on.

VAST was desperate for cash to keep the lights on and could not find the money from anywhere so had no choice but to enter into an equity swap with a hedge fund.

The equity swap works like this. The hedge fund puts up the money in this case £690k but they are not going to accept any physical shares in return (too risky). So they enter into an agreement that VAST will recompense them with any shortfall in the shares should they fall whilst the swap is in place.

At the same time the £690k cash forwarded earns interests for the hedge fund. The financial instrument (swap) is such that it carries voting rights in this case 5.53%. This figure is important because its over the 5% threshold where the hedge fund can call an EGM and cause all sorts of problems if they are not fully recompensed by VAST in the event of a collapse in the share price.

The downside for the hedge fund is that because they do hold any physical shares they will not benefit if the shares doubled on diamond or BP production news.

In short this TR-1 is basically an interest bearing loan that is structured in such a way it can be legitimately and legally passed off as an equity interest so as to instil confidence and generate PI interest.

I stress this is my interpretation of events and why the hedge fund has appeared on the scene on exactly the same date as the placing."

SO WITH AN EQUITY SWAP NO ACTUAL PHYSICAL SHARES ARE PURCHASED! HMMMM...

You forget that no actual shares are purchased.

"Example
In order to understand the functioning of equity swap contracts, let’s consider the following example. The manager of Fund A is wanting to replicate the returns of ABC Corp.’s stock without purchasing the company’s actual shares."

Taken from a poster ADVFN re Fridays RNS TR1 Equity swap.

"No company is going to invest £690k on a whim in an eternal loss making AIM outfit like VAST without some sort of assurance. What happens if Zimbabwe don't deliver the diamonds or work at BP has to stop for whatever reason, the shares could halve or even worse retreat back to 0.18p which is where they were before the 'diamonds in the vault story.

Let me explain what's happening and why an equity swap was used to invest instead of a direct investment in the company's shares. I stress this is just my interpretation of what I think is going on.

VAST was desperate for cash to keep the lights on and could not find the money from anywhere so had no choice but to enter into an equity swap with a hedge fund.

The equity swap works like this. The hedge fund puts up the money in this case £690k but they are not going to accept any physical shares in return (too risky). So they enter into an agreement that VAST will recompense them with any shortfall in the shares should they fall whilst the swap is in place.

At the same time the £690k cash forwarded earns interests for the hedge fund. The financial instrument (swap) is such that it carries voting rights in this case 5.53%. This figure is important because its over the 5% threshold where the hedge fund can call an EGM and cause all sorts of problems if they are not fully recompensed by VAST in the event of a collapse in the share price.

The downside for the hedge fund is that because they do hold any physical shares they will not benefit if the shares doubled on diamond or BP production news.

In short this TR-1 is basically an interest bearing loan that is structured in such a way it can be legitimately and legally passed off as an equity interest so as to instil confidence and generate PI interest.

I stress this is my interpretation of events and why the hedge fund has appeared on the scene on exactly the same date as the placing."

What a surprise. Yet another placing.
That's well over £100m fleeced from PI's by this snouts in the trough BOD.

Here's some earlier research from Andrew Preleas (Vast Resources current CEO) previous business ventures for anyone interested.

"One of Romania's most discreet millionaires, George Prelea, honorary consul of Australia in Bucharest, managed, together with his son AndrewPrelea, to bankrupt a company that owes 30 million euros to the BCR Bank alone.

https://www.national.ro/news/consulul-australiei-la-bucuresti-a-tepuit-bcr-cu-30-milioane-de-euro-168626.html

"We bought in a South Pacific-project, and when we claimed South Pacific for our contractual rights they refused to accept the contract that was signed.
We brought South Pacific to court and have won all the times. They still haven't accepted to follow the contract they have signed, even if we have several court decisions in our favour. The only choice we had was to bring our claim to the Bailiff and let them collect our claim.
It's very time consuming and expensive to do all this, but South Pacific have no respect for the contracts they have concluded. Such people are not serious in my eyes.

In our case South Pacific also showed contempt for the court as they appealed a court decision when they lost, and when their appeal came up in the court next time, they didn't bother to show up in court."

https://www.propertyforum.com/forum/threads/south-pacific.19083/

LEOPARDS NEVER CHANGE THEIR SPOTS.

It's all there on the net.
DYOR.

Here's some earlier research from Andrew Preleas (Vast Resources current CEO) previous business ventures for anyone interested.

"One of Romania's most discreet millionaires, George Prelea, honorary consul of Australia in Bucharest, managed, together with his son AndrewPrelea, to bankrupt a company that owes 30 million euros to the BCR Bank alone.

https://www.national.ro/news/consulul-australiei-la-bucuresti-a-tepuit-bcr-cu-30-milioane-de-euro-168626.html

"We bought in a South Pacific-project, and when we claimed South Pacific for our contractual rights they refused to accept the contract that was signed.
We brought South Pacific to court and have won all the times. They still haven't accepted to follow the contract they have signed, even if we have several court decisions in our favour. The only choice we had was to bring our claim to the Bailiff and let them collect our claim.
It's very time consuming and expensive to do all this, but South Pacific have no respect for the contracts they have concluded. Such people are not serious in my eyes.

In our case South Pacific also showed contempt for the court as they appealed a court decision when they lost, and when their appeal came up in the court next time, they didn't bother to show up in court."

https://www.propertyforum.com/forum/threads/south-pacific.19083/

LEOPARDS NEVER CHANGE THEIR SPOTS.

It's all there on the net.
DYOR.

Here's some earlier research from Andrew Preleas (Vast Resources current CEO) previous business ventures for anyone interested.

"One of Romania's most discreet millionaires, George Prelea, honorary consul of Australia in Bucharest, managed, together with his son AndrewPrelea, to bankrupt a company that owes 30 million euros to the BCR Bank alone.

https://www.national.ro/news/consulul-australiei-la-bucuresti-a-tepuit-bcr-cu-30-milioane-de-euro-168626.html

"We bought in a South Pacific-project, and when we claimed South Pacific for our contractual rights they refused to accept the contract that was signed.
We brought South Pacific to court and have won all the times. They still haven't accepted to follow the contract they have signed, even if we have several court decisions in our favour. The only choice we had was to bring our claim to the Bailiff and let them collect our claim.
It's very time consuming and expensive to do all this, but South Pacific have no respect for the contracts they have concluded. Such people are not serious in my eyes.

In our case South Pacific also showed contempt for the court as they appealed a court decision when they lost, and when their appeal came up in the court next time, they didn't bother to show up in court."

https://www.propertyforum.com/forum/threads/south-pacific.19083/

LEOPARDS NEVER CHANGE THEIR SPOTS.

It's all there on the net.
DYOR.

Here's some earlier research from Andrew Preleas (Vast Resources current CEO) previous business ventures for anyone interested.

"One of Romania's most discreet millionaires, George Prelea, honorary consul of Australia in Bucharest, managed, together with his son AndrewPrelea, to bankrupt a company that owes 30 million euros to the BCR Bank alone.

https://www.national.ro/news/consulul-australiei-la-bucuresti-a-tepuit-bcr-cu-30-milioane-de-euro-168626.html

"We bought in a South Pacific-project, and when we claimed South Pacific for our contractual rights they refused to accept the contract that was signed.
We brought South Pacific to court and have won all the times. They still haven't accepted to follow the contract they have signed, even if we have several court decisions in our favour. The only choice we had was to bring our claim to the Bailiff and let them collect our claim.
It's very time consuming and expensive to do all this, but South Pacific have no respect for the contracts they have concluded. Such people are not serious in my eyes.

In our case South Pacific also showed contempt for the court as they appealed a court decision when they lost, and when their appeal came up in the court next time, they didn't bother to show up in court."

https://www.propertyforum.com/forum/threads/south-pacific.19083/

"Businessman George Prelea, honorary consul of Australia, and his son, Andrew, with whom he owns the company "South Pacific Constructions", are called before the court because they refuse to pay their debts."

https://www.national.ro/news/consulul-onorific-al-australiei-george-prelea-in-probleme-pana-n-gat-din-cauza-unor-wc-uri-197198.html

LEOPARDS NEVER CHANGE THEIR SPOTS.

It's all there on the net.
DYOR.

Here's some earlier research from Andrew Preleas (Vast Resources current CEO) previous business ventures for anyone interested.

"One of Romania's most discreet millionaires, George Prelea, honorary consul of Australia in Bucharest, managed, together with his son AndrewPrelea, to bankrupt a company that owes 30 million euros to the BCR Bank alone.

https://www.national.ro/news/consulul-australiei-la-bucuresti-a-tepuit-bcr-cu-30-milioane-de-euro-168626.html

"We bought in a South Pacific-project, and when we claimed South Pacific for our contractual rights they refused to accept the contract that was signed.
We brought South Pacific to court and have won all the times. They still haven't accepted to follow the contract they have signed, even if we have several court decisions in our favour. The only choice we had was to bring our claim to the Bailiff and let them collect our claim.
It's very time consuming and expensive to do all this, but South Pacific have no respect for the contracts they have concluded. Such people are not serious in my eyes.

In our case South Pacific also showed contempt for the court as they appealed a court decision when they lost, and when their appeal came up in the court next time, they didn't bother to show up in court."

https://www.propertyforum.com/forum/threads/south-pacific.19083/

"Businessman George Prelea, honorary consul of Australia, and his son, Andrew, with whom he owns the company "South Pacific Constructions", are called before the court because they refuse to pay their debts."

https://www.national.ro/news/consulul-onorific-al-australiei-george-prelea-in-probleme-pana-n-gat-din-cauza-unor-wc-uri-197198.html

LEOPARDS NEVER CHANGE THEIR SPOTS.

It's all there on the net.
DYOR.