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#141

Me spirits were raised to day when somebody said they would ‘‘shut up now’’ alas another one of his ‘calls’ he got wrong.


#142

ExParte application for discovery granted on 16th November. Would be quite a lengthy process i would guess.


#143

Shucks mr hammers…you found my only poor call !

Although I was referring to VRS really.

You not invested there are you ?


#144

It’s possible something has been discovered in the discovery. Whatever the case may be I still think today points to a settlement between Frontera and Hope/OMF.

The court papers are very old news, it was always the case that the initial evidence was weak hence the injunction lifted and appeal.

We’re still well in the game.


#145

Since December we’ve had the BP jobs listed so full steam ahead still.

Sleep easy guys, I am.


#146

Tot, It was just published today. Not disingenuous at all.


#147

BP jobs ?

What you smokin’ fozzer…get real ffs !


#148

StarRage.
I repeated Tot’s “disingenuous” on another thread and I now apologise for that


#149

Thought this was a good post in LSE.

I don’t think Mr Kawaley has ever been thinking in terms of who should win and who should suffer as a result of being defeated. Mr Kawaley has said that no one skill-set is sufficient here - that indicates that Hope/OMF taking over the Company is as much a bad option for the Company as is ZM and SN continuing to muddle through on their own.
Mr Kawaley has been careful all the way through this writing up so when he uses the word “considerable” in the phrase “considerable market value” then it must be for good reason. The “box” is confirmed as being full. In the grand scheme of things the potential damages/compensation is actually quite small. The key thing is that Hope/OMF cannot grab and dispose of the “box” with impunity and sacrifice the “considerable market value” of FRR. Helping to realise this “considerable market value” has to be the most lucrative and commercially sensible option for anyone to take. Mr Kawaley’s comment in Section 49 where he says “that it is inherently unbelievable that Outrider would take steps that would be calamitous to its own commercial interests” is quite a statement that on its own seems to support Hope/OMF. It would if at this stage Mr Kawaley proceeded to a judicial resolution against FRR. But he didn’t! And when put into context with Section 50, it effectively says that helping to restructure a company that has “considerable market value” is the logical and expected course of action.

Mr Kawaley is a very clever man because I think what he has done here is to, in not so many words, provide a framework and boundaries for the parties to work within going forward.

We then just need to see whether the $60 million term sheet is still on the table and the status of the Majors. It would be totally consistent with capital restructuring for the preservation of the “considerable market value” if the $2 million interest payment and OMF notes are redeemed using part of the term sheet. I think, imo, what Mr Kawaley has written opens up the way for (or even encourages!) this to happen rather than a sale of assets that would be counter to preserving value.

/Moose


#150

Star,

You’re very negative, that’s fair enough, it looks like shareholders are in a dire position however reality is sometimes different to perception.

Best of luck.


#151

Thanks for posting all the links btw, even if they triggered the delist

:joy::joy::joy:


#152

Zaza’s gossip and tittle tattle has caused the delisting.

Zaza should be made to step down, the road to hell is paved with good intentions.
Zaza is not smart enough to be running this company.


#153

Pophead

Just about to post Moosematics excellent summary myself.


#154

Booster, ultimately this lays at the door of Steve and Zaza, no doubt.

I was jesting with SR, although it was due to the publication of the court docs that triggered the nomad to delist. I’m thankful for the links SR provided.

He sounds very stressed which I totally get. I’ve had my wobble too.


#155

Something is not right StarRage seriously. The way you present your opinion defies an understanding of normal human psychology in someone who says they have a large holding.


#156

Pop,

At a guess I think SR is simply a stressed out holder dealing with this the best he can. There’s folks here with tens of thousands invested and some with much more.

Stressful times. We’re delisted.

Small bump in the road, Hope so.


#157

He’s stressed because he’s being taken to task over on LSE for “GAME OVER” statement from the document which people took to mean was today’s judgment. There is so much more to be gleaned from the document than “GAME OVER” unless you subliminally need that outcome.


#158

On the face of posting style I do question if Star has a holding at all.

Only an opinion mind.


#159

Pop, rather than me tell you how many shares I have, which you probably won’t believe, check back on my posting history on lse and you’ll see how many. More than most.


#160

Got to admit my heart sunk when I read his game over comment. Let’s not be too harsh.

We really need to stick together at this point. United we stand divided we fall.

We could get some good news in the next few days. Keep the faith.