Conti.Coal Share Discussion Threads

[code677] 08/1/2014 20:57

The Company said;
"Losses from operations in recent months has placed additional pressure on working capital requirements with existing funds insufficient to meet near-term obligations to loan note holders and other creditors.
Discussions to restructure those liabilities and with various investor groups regarding refinancing are yet to lead to an arrangement acceptable to all parties.

I don't think that's the same as saying; "some holders have accepted the restructuring and refinancing".
Some holders/creditors may have agreed to deferred payment but without a refinancing to inject new cash into the company, they're sunk.

[queenwood] 08/1/2014 15:42

it says not acceptable to all parties so some of the holders have accepted the restructuring and refinancing i hope its cool that is holding out its not certain from the rns and plans to give in at the last moment. one can only hope

[loverat] 08/1/2014 15:29

That thought crossed my mind too. I think if the management had previously resigned itself to failing it would have issued releases before giving warning updates. Perhaps there is a bit of hardball going on but who knows.

[c31161] 08/1/2014 15:23

Queen hope your right a lot of people here including myself stand to lose a fortune

[queenwood] 08/1/2014 15:20

just a thought after reading the release again the bod may be putting preasure on the creditors to agree to the terms refered to in the release

[queenwood] 08/1/2014 14:21

dire situation it looks as though they cant agree on an extention so se la vie

[6kenny] 08/1/2014 14:16

you could recycle your share certificate and use it as either a napkin or toilet paper...

[empirestate] 08/1/2014 14:07

not a chance, pigs don't fly

[c31161] 08/1/2014 08:03

Would anything be recoverable for shareholders?

[empirestate] 08/1/2014 07:54

what a shangrila

[the heed] 08/1/2014 07:41

Not sure about white night.. But if we do survive it will mean a major dilution debt haircuts and hopefully a change of bod...

I have seen companies accept 90% dilution..

We will see Monday... Either way it's not good news for shareholders..

[mrshaungcm] 08/1/2014 06:17

BOD should be strung up for this right royal fuk up - scamming kants

[loverat] 08/1/2014 01:41

In most situations like this you would typically get one or two RNSs before suspension stating that negotiations ongoing. That would often give shareholders the chance to bail and recover something. This announcement seems to have come out quite late in the day and I don't think many were expecting this. We'll have see what happens but I am not hopeful.

the heed - sadly there are quite a few indiduals out there who get pleasure from the misfortune of others. I suppose it gives them someone to focus negativity on and away from their own miserable lives.

[code677] 08/1/2014 01:28

Moving into the end zone faster than I'd anticipated, thought they'd at least drag it out 30 days or so. Administrators appointed Monday unless a white knight appears out the blue in the next couple of days...

[the heed] 08/1/2014 01:08

Also it's a sad state of affairs when people want to stay up to gloat others bad news.. Really do you have such a sad pathetic life that you had to stay up on a school night, to read the outcome of a share you no longer own???! I'm sad that I have may have lost some money .. But it's not the end of the world or my life.. Whilst those who take pleasure in others misfortune?? Shame on you... But then you have no life, so who cares?

[useless23] 08/1/2014 00:28

Any holders here have my sympathy. What a change from a year ago?!