DQ Entertain. Share Discussion Threads

[smithie6] 08/1/2016 11:21

Yeah yeah.
I knew that

1) imo the 51% will win ctr of the bod...in the end
....but of UK DQE !!!. which is where they own shares

2) the bond holders have the choice to accept or not that bond conditions are broken or re-negiotated

I note that items 1 & 2 might not be "directly" linked since at "different" companies !!...1 is IOM and 1 is Mauritius !!

3) imo bond holders 'might' be happy to have Tapaas replaced at DQE Mauritius by dirs proposed by 51% holders at DQE UK.....but see later notes

4) imo bond holders only put up the cash in order to take over the co. for value of the bonds.....
If so then they wont want to co-operate with the 51% holders, bond holders imo want default and to then own the co. ( DQE Mauritius)....uk shares then being essentially worthless imo ....apart from owning a listed shell...

5) if the 51% get ctrl then they have the problem of repaying the large value of the loans or see their investment wiped out

All imho. NOG. DYOR
If any mistakes pointed out today then I will try to update post.

[tiltonboy] 08/1/2016 11:17

I wouldn't disagree with what you have said Smithie.

The cynic in me would suggest that the Deed of Amendment didn't exist in July, but has been recently produced to protect a deceitful and incompetent board.

All IMHO of course!

[here and there] 08/1/2016 11:08

This is all about the battle between the existing management and bondholders and the new large share holders who own 51% of the company.

This agreement sends a very clear message to the newbies.

'If you insist on putting yourself on the BOD, if you get rid of existing management then the bond holders will consider the company to be in default of the agreement.'

The bond holders could demand their $35million back. The new share holders would have to find the money!!??

This smacks of brinkmanship. Even though the new share holders own 51%, the bond holders, working in conjunction with existing management, control the company.

I imagine there are a bunch of lawyers running around in Hyderbad trying to reach some sort of compromise/deal

[smithie6] 08/1/2016 10:46

Happy to be corrected/ enlightened

As I wrote I havent been reading all the news....but I thought I had it roughly right, no ?

Battle between major shareholders and the bod.....for who sits on bod and controls co.
With big pile of debt at DQE Maritius....which could wipe out uk shareholders
Multilevel corporate structure
Incompetent and/or dodgy MD ( on my blacklisted page on website)
Possibly false accounts....such as false receivables
Poor products which dont sell well directly or via licensing
Cheap workers on per hour basis versus developed world
Uk part raised many millions and now worth almost nothing. ie. Disastrous co. performance.....yet the MD is still there !!!!!

Has the MD turned 50M£ into 2M£ ? Muppet.

Any mistakes & happy to correct.

[here and there] 08/1/2016 10:44

Smithie, you clearly do not understand what is going on here

[smithie6] 08/1/2016 10:42

One nasty thing about the money from bonds imo
Is that lent imo to DQE Mauritius
Where imo on the bod are DQE IOM MD & wife & daughter...

Would anyone in right mind lend tens of millions to such a bod ?!
I cant believe it !!

( & of course the opportunities for fraud/theft...or excessive pensions, wages, expenses are massive)

And the risk of conditions like "cant get rid of the MD"....as they have done !!
-----

Btw
Got "Blacklisted" page on website. DQE MD is on there...since 2013/4

Fulltimeinvestors.com

[smithie6] 08/1/2016 10:38

Tilton
3476
I think you are right !

[smithie6] 08/1/2016 10:33

'Limit to powers of new big shareholders'

Completely disagree.
The shareholders by law control the bod.....eventually. imho
Any illegal bod clauses can surely be overidden in court or at EGMs. No ?
----

Qu. for me is how the incompetent MD managed to get anyone that are not PIs ( !!) to cough up tens of millions of $ to lend to DQE Mauritius ( which imho owns the 75% in DQE India).
( if bond holders take over DQE Mauritius due to them not bing able to repay ...then surely DQE UK shares will/would be worth 0p ?!

----

(Dissapointing to read so many PI posters that dont seem to understand or try to understand what they own a part of and what the co. structure is.....so many ppl think 1 DQE UK share is 75% of 1 DQE INDIA share, its not that simple)

[tiltonboy] 08/1/2016 10:32

Further, I would like to know the relationship with the bondholder, and any members of the board. The cynic in me would say that the Deed of Amendment did not actually take place in July, but was added recently to protect a deceitful board. All IMHO of course.

[tiltonboy] 08/1/2016 10:01

Good points smithie, wish we had a board that would be honest and straight with investors, so we could make informed decisions.

[here and there] 08/1/2016 09:58

This is clearly a warning to the new big share holders that there is a limit to their actions

[smithie6] 08/1/2016 09:57

....as an aside...
Without knowing the current news or anything...!!
What is the risk that DQE uk shares are "worthless" because of the bond holders being ...in the sandwich between DQE UK and the operating co. in India ?

Situation reminds me of Globo.....dubious actions and keeps borrowing money.

I guess the key factor is who are the ppl putting up the hard cash for the bonds ?
I assume the bond holders will want the uk shares to be worthless.

(& DQE Junglebook.....fairly useless imo)

[smithie6] 08/1/2016 09:39

As distant spectator....

Perhaps the new large shareholders can charge dirs. of DQE IOM of breaking or supporting the breaking ( by DQE Mauritius ) of IOM company act with item 1 of the RNS
...under company law item 1 is illegal imho..

Directors must provide loyal administration and submit to shareholder votes at AGMs to be re-elected every x yrs, normally 3yrs. To impose conditions above that is disloyal administration imo.

The MD needs to go. Incompetent and dodgy imo.
Mauritius bod includes his wife and daughter. Cant be trusted imho.

( Reminder of risks of companies not registered in uk and under ctr of UK co. Law and uk legal system ( pretty uselesss since FCA & regulators normally asleep and PIs normally dont have the cash to take dirs to court.. but at least gives shareholders a chance of legal recourse)

[whitehunter] 08/1/2016 08:51

What is so special about the board that they can't or should not be replaced?

They don't seem to be doing a great job or we wouldn't need the bond money in the first place.

Don't trust this lot at all. Feel like I've been mugged again.

[mandm10] 08/1/2016 08:35

Tilton, likewise. Not surprised at all by this, it is a very devious and clever manouvre. Still totally in the dark as to whether it will benefit us or not, but see a take out on the horizon. No idea as to at what level and who, if anyone can protect us. Allenby?????? They seem to be very quiet as of late!!

[tiltonboy] 08/1/2016 08:06

mandm,

I will take that 8p like a shot!

[tiltonboy] 08/1/2016 07:58

sp,

Because all the major shenanigans are occurring in plc, Mauritius, and Ireland.

[tiltonboy] 08/1/2016 07:56

Further disgraceful behaviour!

The shares should be suspended, pending clarification!

[simonparker5] 08/1/2016 07:49

Interesting RNS this morning which basically means that for the bond not to default we can't have a change of the BOD. Or am I reading that wrong?
It looks like we also have a situation which could be construed as a default of the bond which the company is looking into.
I guess this is why we are at such a low price. What I don't understand is why India is doing so well with all this going on!

[tiltonboy] 06/1/2016 14:42

mandm,

When I get back from SA, I am going to request a copy of the share register. I would guess there is a bit more of a free float than you suggest, and I think that Goldman may have reduced.

[2pablo] 06/1/2016 13:56

mandm - you know more than I thought plus you've got a lot more 'skin in the game' than I imagined. Will try to go through your figures when I can but 'tis a complicated affair.

As reported previously I got a friendly but fairly bland email back from Rashida which confirmed the $15m Bond issue still in the air but sounds like DQE want it. I have sent her a second email asking for her opinion how 'receivables' are progressing and her take on the none correlation of the Indian and Aim share prices.

[mandm10] 06/1/2016 12:56

2p: Go to investors relations on the India site and see that the promoters (ie US) own 75% of shares, that leaves 25% tradeable in India.
As regards UK: over 90% is owned by major holders: Zenithal, Florida, Goldman, CCS, Platinum & Ferlim. The tradeable shares here amount to in monetary terms re £300K, Tilton & Myself own somewhere between 15-20% of those.
As said earlier, my fear is that the protagonists will soon be in position to buy out DQE from AIM at a steal. With the Nr. of shares they own, it is easy to drip feed back into market to try and keep share price surpressed. Something has to break soon, hopefully I am wrong and SPs will start to correlate. Tilton as regards bond issue, there is a 36 month period from Dec. 14 before dilution sets in, so as long as Co. can survive next two years we should be OK

[mister md] 06/1/2016 10:42

that 165k sell looks like the buyer first thing this morning (totalling 165k shares) has already closed their trade !