Cadogan Energy Solutions Share Discussion Threads

[thordon] 21/7/2021 19:40

Technically would have to be made in Italy , but could be made in the UK courts as this is a British company.

[russman] 21/7/2021 16:42

& where has the court application been made?

[thordon] 20/7/2021 20:21

Its a court case , unless it can be arranged by talking
Shares are still for uptake in proger

[russman] 20/7/2021 18:23

Proger loan is a write-off until justification for no interest and no repayment is understood by the Auditors.

[itsriskythat] 14/7/2021 10:10

I am pretty confident new negotiations are part of the plan as Fady has just had an exceptional bonus approved of 5% of the cash recovered from Proger. Looks like recovery is going to be the priority for him.

He expects this to happen this year as the value of the Proger loan amount in the balance sheet has been discounted for a period of only twelve months. The auditors would have required a deeper discount if the recovery process was expected to drag on for years.

[itsriskythat] 14/7/2021 09:56

As far as I am aware Cadogan has not agreed to go to arbitration which is a consensual process and requires the agreement of both parties. This dispute with Proger will be settled in the commercial courts or likely before it even reaches court by new negotiations.

[brumbrum79] 13/7/2021 20:26

Thordon, sorry but I don't have any informations and links to Proger arbitration case.

[thordon] 13/7/2021 19:58

Brumbrum79 do you have any links to Proger arbitration case.

[itsriskythat] 01/7/2021 11:17

Proger shareholding is now worth a lot more than the cost of the original loan.Brent oil price passes $76 today.Operations are profitable.Looking like a corner has turned.How are the legal challenges to State Geological Service going?

[brumbrum79] 30/6/2021 11:39

hxxps://futureiot.tech/zte-delivers-5g-connectivity-to-smart-t-shirt-prototype/

Good reading

[thordon] 28/6/2021 19:09

Yep , also that may be the aim but to have the shares direct with Proger

[itsriskythat] 28/6/2021 09:59

Shareholder pressure to change the strategy towards Proger would create a lot of additional value in Cadogan. Anyone agree?

[russman] 27/6/2021 07:04

The Proger debacle is lingering.
It is obvious Proger have not got the cash; probably have not even paid any interest to date.
CAD should drive a hard bargain but not risk destroying the potential.

[thordon] 26/6/2021 08:09

It would appear that Mr Khallouf knows a way to bring the outstanding loan in , one way is for Proger to list on the market. Cadogan could renegotiate the terms of the loan for direct investment.

[itsriskythat] 26/6/2021 08:06

Good posts 19980 and 19981.

Post 19980 has some recent links which show Proger is a high growth company and post 19981 proves Kellett and Cynderella are pushing for an alternative strategy at Cadogan.

I wonder how Kellett and Cynderella propose that Cadogan develops its strategy to become a sustainable company?

I've seen several other UK listed oil and gas companies starting their transition to net zero. All of them have started by making an initial investment in small private companies which operate in parts of the renewable energy space:

Scirocco SCIR, Eco Atlantic ECO, Chariot CHAR, Igas Energy IGAS and Coro Energy CORO

To become a profitable business in renewables requires a large amount of capital expenditure. So although these oil and gas companies have started to transition, the only way forward is for them to raise a lot more capital before their business model becomes sustainable.

There is one solution here for Cadogan and that is to find a buyer for its loan with Proger PMP.

There are plenty of companies and funds that would like to make an investment in renewables and maybe Proger fits the bill, if Proger plans an IPO. Funds can then realise the full value of their investment in Proger when it is brought to the market with a public listing.

If that were to happen then Cadogan stops the litigation with Proger PMP and can realise the value of its loan.

A change in strategy is expected.

[brumbrum79] 25/6/2021 19:28

'...The Board notes the votes against these resolutions and will endeavour to respond and engage with the shareholders on these matters where appropriate.'...

Taken directly from Cad Annual Financial Report 2021 - ref. pag. 18:

Major shareholder

12 April 2021 Number of % of total shares held voting rights
SPQR Capital Holdings SA 67,298,498 27.57%

Mr Michel Meeùs 26,000,000 10.65%
Ms Veronique Salik 17,959,000 7.36%
Ms Jessica Friedender 17,409,000 7.13%

Kellet Overseas Inc. 14,002,696 5.74%

CA Indosuez Wealth Management 10,094,620 4.13%
Mr Fady Khallouf 8,337,031 3.42% (*)
Mr Pierre Salik 7,950,000 3.26%

Cynderella International SA 7,657,886 3.14%

Julius Baer 7,270,000 2.98%

(*) Cad's P.R. dated 24 May 2021: Following this purchase Mr Fady Khallouf holds in total 10,425,455 shares representing 4.27% of the Company.


Kellet Overseas Inc. 14,002,696 5.74%
Cynderella International SA 7,657,886 3.14%
___________________________________________________________
Total shares 21,660,582
___________________________________________________________


Resolution Ordinary/ Special For Against Total votes cast


No. of votes% No. of votes%
1. To receive the Annual Financial
Report Ordinary 100,162,706 82.22 21,665,582 17.78 121,828,288




4.To re-elect Michel Meeùs as a Director of the Company
Ordinary 93,228,035 76.52 28,600,253 23.48 121,828,288



11.To approve the exceptional bonus scheme for the Company’s CEO
Ordinary 93,227,035 76.52 28,601,253 23.48 121,828,288


There's another 'big' CAD's Shareholder that vote against to specific AGM resolutions (4-7 & 11).

In my humble opinion now it's clear because Mr. Khallouf is buying Cad's shares...

[brumbrum79] 25/6/2021 18:18

I'd like to share these:

1)
hxxp://www.proger.it/wp-content/uploads/2021/05/Comunicato-Proger-Fatturato-in-crescita-del-60-Cerved-conferma-il-rating.pdf
(Italian language)
...

2)
Today:
hxxp://www.proger.it/lotto-1-taormina/
(Italian language)
After that (lot 2 - news dated 22.03.2021):
hxxp://www.proger.it/en/ferr_giampilieri/
(english version)

[itsriskythat] 25/6/2021 17:28

It seems a couple of large shareholders have given Fady Khallouf a fright today.

My initial reaction to the AGM vote is that this is pretty awkward for Fady Khallouf. He can ignore this vote at his peril with the risk of other shareholders also expressing their dissatisfaction.

It won't come to a rebellion, but it will spur on the corporate activity. So much was promised and now is the time to deliver.

Change is expected.

[brumbrum79] 25/6/2021 15:16

Result of AGM... interesting.

"Some" shareholders is not happy..
The management board is surprised?!?

[thordon] 22/6/2021 21:11

Should get news on the loan court case soon

[oilhunter2020] 22/6/2021 10:20

Patience is a virtue....

[brumbrum79] 18/6/2021 11:14

hxxp://www.proger.it/en/security-accordo-fondo-estero/

16.06.2021
Integrated Security – Proger has signed a collaboration agreement with an important foreign investment fund

[diesel] 18/6/2021 10:54

Looking like the market is assuming the loan to Proger is not going to be resolved any time soon.

[diesel] 16/6/2021 16:00

Still here, but Comfortably Numb.