Great post from B-2-0 over on LSE. IN the last year from Jan B-2-0 has only made 6 posts. I was going to just post todays comment off the back of theprodigy press revelations but I read back through the six.
Thought is good to post all 6 in order. Some comment on old news but an interesting progression confident from the beginning. Journey not over but this latest is a real lift to the spirits.
Maple excluded as default injunction no longer a separate case and not being contested as the signing of the funding term sheet while Hope suspended is evidence Hope veto caused the default. Fid duty case and default inextricably linked due to the multiple loan veto by Hope. The signing of the term sheet while Hope suspended is the damning evidence of breach and has provided the facility to service the loan covenant. Game over for Hope
Zen, you make a very valid point, and it is one of a long list of events culminating in the multiple claim case against Hope. The evidence I have seen is overwhelming in its verdict, and has been collected over a period. There is one element which intrigues me and that is the exact financial claim of £56,280,800. Despite not knowing it’s derivation, I am left in no doubt that given it’s nature, that the forensic behind it will clearly support the value, otherwise Zaza and his council would not have stated the exact amount in the charge. I expect we will not get to see it and other more sensitive evidence given the implications for those implicated in Hope’s attempts to take control of B12 and this will be settled ooc.
We shall see soon enough though gla B20
Been off the grid for a while but wanted to tap back in to remind the LTH of the significance of B12 nationally and regionally. I have been part of this journey for many years now, and having overcome significant challenges in the process, recent events are the final pieces in the puzzle for FRR. FRR is no longer a speculative investment, it is now on the verge of becoming part of a transformational energy alliance for the entire region, in ultimately developing an international supply of both O&G for many years to come. As a LTH I have never been more assured as to the outcome of recent events. I was fortunate enough to have bought a tranche on the Friday before the suspension. As the share is suspended there is no longer the opportunity to get in, but more signifantly for those exposed to upcoming news and the potential impact of the gap traded, the way out. Live by the sword…B20.
10/06/19To survive an attack from a formidable enemy who has infiltrated your ranks extreme tactics are required to survive and conquer. Fortunately the enemy and motive were identified early, and a strategy implemented with a number of escape options possible. This has been the key to winning the war, casualties are inevitable, but that is the price to pay. Hope took the bait and resigned, providing the preferred escape route, leave the vulture to look for his next victim. It’s game over for Hope, FRR flock are going airborne. It’s not the beginning of the end, but the end of the beginning. Who dares wins B20.
Asset to be transferred to Frr Georgia, Frr Texas holding company, new share capital injected from 3rd party farm in, existing share holders receive shares in Frr us. Other Frr companies liquidated and debts settled. Resolutions passed - it is time to fly after 20 years, get strapped in for take off B20.
The translation is confusing the news we have all hoped for. The negotiations have made it possible to sign the deal to allow the investor to recover the investment. This is an investment into FRR!!!, allowing for development and production beyond 2027. Nearly all negotiations ended positively but the crucial part is the banks are satisfied to progress with the deal - asset security threat has been removed! The message does not suggest the tax rebate has not been paid, or that the employees have not been paid. I will simply say ZZ was willing to provide bridging finance of 5m. The deal will be strategically significant for Georgia, the wider region, and the investors. I understand your doubt and mistrust, but ZZ has always been aligned with the above stakeholders and in the process averted a hostile take over and secured a life changing deal for the long term investors. ZZ and FRR Team you deserve this success. B20