RE: S Hope Declaration11 Nov 2022 20:15
Looed many thanks for the latest court docs
I see there are a number of emails on 24th April 18 discussing the dire financial situation and where / how desperately needed money would come from .
What I cannot see in any of the emails or Hope declaration is any reference to the Green Capitol forward sale agreement .
Below is from FTI ( I think )…..
The Green Capital Contract
On April 25, 2018, shortly after the Georgian government initiated the international arbitration and at a time when FRGC was in desperate need of capital to try to actively develop the area covered by the PSC and avoid its forfeiture under the government’s claim, FRGC entered into a Forward Sale and Purchase Contract (the “Forward Sale Contract”) with Green Capital. See PX 7 at 1. Green Capital initially pre-paid $2.8 million under the Forward Sale Contract, but the contract was amended on October 19, 2018, to increase Green Capital’s pre-payment to $10 million. See id. § 8.3, Addendum #2 § 1. The October 2018 amendment also granted Green Capital a security interest in
FRGC’s assets…
With us entering the contract with Green the day after the email exchanges seems strange that its not referred to in the emails / declaration …..maybe only one director aware of it !
Can’t recall any RNS ‘s about it at the time , certainly was non re the Oct 18 amendment giving Green security interest in FRGC ‘s asserts .
Looking forward to SN response .