Cadogan Energy Solutions Share Discussion Threads

[targatarga] 26/3/2021 07:22

Don't forget overpaid!

[itsriskythat] 26/3/2021 07:13

Shortest RNS in history.

Here are some more words .. tardy, slow, delaying, inactive, laggard, lazy, procrastinating, remiss, slack, sluggish and diligent.

But dilatory does the job.

[targatarga] 25/3/2021 08:08

I wonder what Michelotti thinks of this now?

[russman] 25/3/2021 07:51

PMP was the holding company.
If it still is; the Proger empire would unravel very quickly.
Maybe PMP has already been emptied.

[shortcpx] 25/3/2021 07:17

He's got verbal emphysema. Terse RNSes because he thinks RNS charges are by the word

[itsriskythat] 24/3/2021 20:40

Is Fady getting legal advice, because he's had long enough to get some and plan for this endgame?

[russman] 24/3/2021 19:59

PMP did hold 75% of Proger Ingegneria (say) in 2019.
PMP may not have ready cash but it used to hold some valuable stakes.
An opportunity to drive a hard bargain.

[diesel] 24/3/2021 18:55

Looks like Cadogan’s main business is litigation. This is all very odd, what was that three week delay about? Just so they could find some interpretation of the contract to tie this up with lawyers for years!

[brumbrum79] 24/3/2021 16:59

I find this news on the Proger Spa's web site:

24.03.2021 Communication Proger Manager&Partners S.r.l.

Below is the note sent by Proger Manager & Partners S.r.l. (PMP) in response to the news spread during the recent days regarding alleged breaches committed by the latter in relation to the agreement executed in 2019 with Cadogan Petroleum Holdings BV, indirectly controlled by Cadogan Petroleum PLC.
The dispute between Cadogan and PMP sees Proger S.p.A. completely extraneous to the facts.

You can read the PMP srl's note here:

hxxp://www.proger.it/en/communication-proger-managerpartners-s-r-l/

hxxp://www.proger.it/wp-content/uploads/2021/03/Communication-PMP.pdf

[diesel] 24/3/2021 10:03

Or just take on debt, with what looks like a lot of contracts in the offing I’d have thought borrowing would be fairly straightforward.

[russman] 24/3/2021 09:06

A call option which has not been exercised.
A call option which is now valueless.

[shortcpx] 24/3/2021 02:16

You don't need a pre action protocol when it comes to security enforcement. You'd show as part of that process the repayment has not been made on time or on the extension date. Fady wants no part of Proger, just the cash so he's snookered and Proger know it. This loan was set up with a view to taking up the option, which is why interest would have been waived.

[diesel] 23/3/2021 22:53

Thordon, what are you talking about? Proger asked for an extension until 19th Mar, my question is, what were they hoping to achieve in 3 weeks.

[russman] 23/3/2021 20:29

A default notice.
Maybe the loan was to some other shell with a very similar name & P.O Box to Proger.

[timbo] 23/3/2021 20:12

Pre action protocol...

[thordon] 23/3/2021 20:05

diesel - if you went to court and the judge asked what did you do to recover loan.
The replies would be we have written on several times and no response.
If Cadogan did not then the judge would ask please write first and suspend court hearing.

[diesel] 23/3/2021 08:49

I wonder why they asked for another three weeks, must have been some rationale? Perhaps didn’t want the financial exposure while negotiating a large contract.

[fillipe] 23/3/2021 08:19

Whatsoever, this morning, CAD's shares are being bought.

f

[russman] 23/3/2021 07:51

Doubt Proger have paid any interest to date either.

[targatarga] 23/3/2021 07:25

If Proger try anything too risky they'll lose their remaining credibility. Imho

[thordon] 22/3/2021 23:06

ill answer that tomorrow , but yes they have

[russman] 22/3/2021 21:20

Doubt there are any assets left; it is whether Proger has ring fenced the loan liability.

[thordon] 22/3/2021 21:04

Debt is Debt , company's that default will have the assets frozen.
Its that simple in the case of law no matter what country.

[russman] 22/3/2021 09:57

if Proger wanted to change the loans terms, should have asked before default.
no defence to argue in the courts.

[fillipe] 22/3/2021 09:44

"Best resolution would be some form of negotiated staged repayments, with interest accruing."

I much agree with you on that.

f