Fibregen Share Discussion Threads

[asparks] 27/8/2009 08:58

he should seel all he owns to give some compensation to shareholders IMO

[madengland] 25/8/2009 22:47

i cant see any mention of it

[turbotrader2] 25/8/2009 15:02

you are joking????

[kooba] 07/8/2009 18:00

madengland,as long as the company is a going concern and you can't effect a transaction i can't see how you can take the loss.lets hope there isn't one!!!!
there is talk of there being a matched bargain facility{see jenkins @ rivington] when they have finished sorting out the balance sheet but nothing yet..will post if i hear more.

[madengland] 07/8/2009 17:26

any tax gurus out there? while the shares remain suspended on aim, have we yet taken the loss on the share?

[madengland] 07/8/2009 09:44

thanks kooba, hope so

[kooba] 01/8/2009 16:33

having read the letter to bondholders...they are seeking a standstill agreement on june interest payment to avoid a default situation...agreement needs to be in by 31st july.
starts"as some of you are aware fibregen has been working closely with several of the larger bondholders to review and execute options with respect to maximising stakeholder recovery values.to date we have executed the sale of the virginia wood chip mill and reduced corporate debt"

finishes "fibregen wishes to assure you that it continues to work hard to maximise stakeholder value."

so maybe some news once they have sucured bondholder support?

[turbotrader2] 27/7/2009 20:25

hope so, would be nice to get ANYTHING back

[madengland] 27/7/2009 19:50

many thanks kooba

[kooba] 26/7/2009 17:33

i believe the company has agreement from some of the largest conv holders to pass the forthcoming interest payment and is seeking authority from the balance of holders.i see this as encouraging enabling the company to get back on its feet and also retaining equity value.i would expect there to be an update assuming the conv proposals are approved hopefully giving a game plan of how to restore shareholder value with the remaining operations.
i am getting the conv proposals sent to me so will post if anything significant,

[loafingchard] 24/7/2009 16:28

1 June 2009
FibreGen plc
("FibreGen" or the "Company")

Company Update
Settlement of St Peter Port Capital Debt


Dear Stakeholder;

As announced on 15 July 2008, Fibregen plc had an outstanding debt to St Peter Port Capital ("SPPC") of £3.1m with an interest rate of 10%. The entire balance was payable on 22 July 2009.

The Company has now settled this outstanding debt and interest with a payment at less than the amount owed. As a result of this transaction, SPCC no longer has a holding in, or any security over, FibreGen's assets.

The Company continues to focus its strategy and efforts on its Canadian wood pellet assets.

The Company will provide further updates in due course.


Glenn Smith, CEO

Richard Squires, Chairman


Enquiries:

Abchurch Tel: [phone]
Justin Heath / Joanne Shears Tel: [phone]
[e-mail]
www.abchurch-group.com

[madengland] 24/7/2009 16:10

Anyone know any news on the way?

[turbotrader2] 01/6/2009 10:03

1 June 2009
FibreGen plc
("FibreGen" or the "Company")

Company Update
Settlement of St Peter Port Capital Debt


Dear Stakeholder;

As announced on 15 July 2008, Fibregen plc had an outstanding debt to St Peter Port Capital ("SPPC") of £3.1m with an interest rate of 10%. The entire balance was payable on 22 July 2009.

The Company has now settled this outstanding debt and interest with a payment at less than the amount owed. As a result of this transaction, SPCC no longer has a holding in, or any security over, FibreGen's assets.

The Company continues to focus its strategy and efforts on its Canadian wood pellet assets.

The Company will provide further updates in due course.


Glenn Smith, CEO

Richard Squires, Chairman


Enquiries:

Abchurch Tel: [phone]
Justin Heath / Joanne Shears Tel: [phone]
[e-mail]
www.abchurch-group.com

[sg31] 17/5/2009 13:46

madengland,new thread

[madengland] 17/5/2009 12:28

Does anyone actually trust the management of this company to firstly be trying to do the right thing, and secondley have the ability to execute a strategy with the required diligence and competence? I hope they do, as I am nursing a hefty loss and licking my wounds. Certianly i learnt the lesson of not investing in incompetent management teams from this one. I hope the optimism proves correct. At least nice to have the company of all of you! Keep up the optimism, I might become hopeful also one day

[sg31] 15/5/2009 21:49

Kooba,thanks for that,I didn't see the new board.I will monitor that one for news.

[kooba] 15/5/2009 20:52

apart from the news posted on the other new board then?

12 May 2009
FibreGen plc
("FibreGen" or the "Company")
Company Update – Sale of Argonaut Biofuels LLC
Dear Stakeholder;
FibreGen plc (the "Company") continues to execute its previously announced
strategy to dispose of its non-core assets and, in that regard, announces, today, the
sale of its US subsidiary Argonaut Biofuels LLC ("Argonaut").
Due to market conditions, the Company was not able to raise sufficient capital to
construct the planned wood pellet plant at the Argonaut site in Virginia, USA. The
Company has, however, continued to manage Argonaut's existing wood chip
operations serving the US pulp and paper industry. Unfortunately, economic
conditions in this market segment have been very challenging. This has resulted in
significant losses in the Argonaut subsidiary. These continuing losses have required
the Company to pursue a strategy to sell this subsidiary. After an extensive process,
the sale of Argonaut was completed on 28 April 2009. The sale of Argonaut
removes approximately US$5 million of debt from FibreGen's consolidated balance
sheet.
This transaction allows your Company to further concentrate its efforts on
strengthening and improving the performance of its Canadian wood pellet
operations.
We will provide a further update in due course.
Glenn Smith, CEO
Richard Squires, Chairman
Enquiries:
Abchurch Tel: [phone]
Justin Heath / Joanne Shears Tel: [phone]
[e-mail]
www.abchurch-group.com

[sg31] 15/5/2009 20:49

Still no news....just bringing this back to the top.