Mustang Energy Share Discussion Threads

[dingdong62] 08/3/2022 11:28

From: ding dong
Sent: Tuesday, 8 March 2022 3:41 AM
To: [e-mail]
Subject: Re: share holder

Hi Dean
Any plans to relist after todays news?


From:
Date: Tuesday, 8 March 2022 at 05:00
To: ding dong
Subject: RE: share holder

Hi

That has always been the goal and it is something we will now pursue as soon as possible.

Regards


Dean L Gallegos
+ 61 416 220 007

Managing Director

[aimbagger] 08/3/2022 11:01

RNS hTTps://www.voxmarkets.co.uk/rns/announcement/0d58296d-0350-45f3-a614-0aba14f4d8a1

[aimbagger] 08/3/2022 10:45

Likely to get news in 48 hours, agree comms could be better but we are just the vehicle here, BMN are the drivers. Yesterdays news was fantastic news for us holders, Enerox promises to be a big player in the VRFB space and I for one am extremely pleased. Looks like we should make a decent profit after being suspended for so long as long as the terms are favourable and I will be looking to hold a chunk long term.

[begorrah88] 08/3/2022 09:50

For something so significant in the development or collapse of MUST it is inexcusable to not even acknowledge the judgement having come out.That really is sticking 2 fingers up to the people that are invested.

[dontay] 07/3/2022 20:20

Garnet v VRFB (approved judgment 7 March).pdfHttps://filedropper.com/d/s/cnwcBZitW1eH1vx0qs32jE4L74Za3a

[megaman2] 07/3/2022 16:06

I think that's the reality of any spac the directors are just their to entice a target to list then pop off.

[begorrah88] 07/3/2022 15:15

They are the absolute whipping boys in this whole set up & have been since the off.Will be probably be checking with Acacia what they can and can't say.Tells you all you need to know about how the business would be run if it ever went through.

[megaman2] 07/3/2022 15:02

Apparently all the must directors where at job interviews so haven't seen the news ...

[megaman2] 07/3/2022 14:01

Awful rns really ...allowing parties time to digest...I mean wtf they knew the cc judgement was due and imo they got the most probable result ....now left everyone hanging it's poorly run outfit

[begorrah88] 07/3/2022 13:36

It's good of BMN to let Mustang shareholders know what Mustang have agreed with them.What a shame MUST don't think it is appropriate to let their own shareholders know.Really, how tricky can it be to put out an RNS at the same time?

[dontay] 07/3/2022 13:26

RNS from BMN:Bushveld Minerals Limited (AIM: BMN), the AIM-quoted, integrated primary vanadium producer and energy storage solutions provider, with ownership of high-grade assets in South Africa, is pleased to report on the judgement outcome of the litigation as set out below.As announced on 14 July 2021, Garnet Commerce Limited ("Garnet") issued a claim form in the English High court against VRFB Holdings Limited ("VRFB-H") and Enerox Holdings Limited ("EHL"). EHL owns a 100 per cent interest in Enerox GmbH ("Enerox"), a Vanadium Redox Flow Battery manufacturer, providing grid scale and micro-grid energy storage solutions.Garnet's claim form sought declarations against VRFB-H concerning an alleged breach of the joint venture agreement in relation to EHL. The alleged breach was in respect of the indirect investment, announced on 27 April 2021, into EHL by Mustang Energy Plc through VRFB-H, in terms of which Mustang acquired a 22.1 percent shareholding in VRFB-H in return for an investment of US$7,5 million.The Company notes the judgment handed down earlier today in the High Court of Justice: Business and Property Courts of England and Wales (Chancery Division) in the matter between Garnet Commerce Limited (Claimant), VRFB Holdings Limited and Enerox Holdings Limited (Defendants) and 2289609 Alberta Limited (Third Party) [Claim No. BL-2021-001153].The judgement outcome vindicates the position that the investment by VRFB Holdings Limited ("VRFB-H") into Enerox Holdings Limited ("EHL"), funded as it were partly from an investment by Mustang plc ("Mustang"), was entirely appropriate and not in violation of any agreements. Accordingly, the investment by Mustang into VRFB-H, and the investment by VRFB-H into EHL,continue to be in place. As previously announced, Mustang's investment into VRFB-H constitutes a reverse takeover according to the AIM Rules. As such, Mustang shares will remain suspended while it prepares a prospectus on its investment into VRFB-H.Meanwhile, Bushveld and Mustang have agreed on the extension of the notice period for Mustang to issue notice in respect of the backstop as announced on 19 January 2022, by a further 72 hours to close of business on Thursday, 10 March 2022 to allow both parties to digest the judgment and its implications. The Company will provide further updates in due course.

[dontay] 07/3/2022 12:55

My take on the outcome is that although great that we haven't lost, no side has actually won anything. I'm not sure, I'm not clear if this judgement actually advances Mustang's plans to re-list and move forward. As it stands it's appears, imo, difficult for Mustang to proceed with the plans to publish a prospectus without EHL's agreeing to release all the info that's required for them to be able to do that. Am I correct?

[megaman2] 07/3/2022 11:33

Well I havent lost my undies here just yet . Seems positive for a re-listing and a green light but not counting my chickens until seeing what exactly transpires . If vfrb-h does reverse fully into must the share price will be hampered by the events of the cc and obvious animosity between Garnett and vfrb-h . If we re-list no doubt there will be a number of sellers looking to exit who are either fed up or need funds etc etc . Im planning to hold if must re-lists as i see value here but a lot to be unravelled here though..

[gerd212] 07/3/2022 11:20

Copied from elsewhere


Conclusion

Garnet, I can well understand, may see itself as having been badly let down by VRFB in the 2021 Funding Round. This is with some justification, as VRFB was far from transparent concerning its plans. However, I am not persuaded that VRFB was in breach of the JVA, much less that it was in material breach. The upshot is that the present proceedings do not help Garnet to extract VRFB from or to diminish its position as its co-venturer in EHL. Neither, for that matter, can VRFB gain anything from its claim in these proceedings. Uncomfortable as it may be for the two sides to continue together, these present proceedings are not the way forward.

[begorrah88] 07/3/2022 11:05

Other threads saying no breach & BMN share price moving up.

[jonny_wright] 07/3/2022 08:40

Under 2 hours to go! Since MUST has been suspended the market has been terrible, not been too bad sitting this market out

[megaman2] 04/3/2022 15:59

I e got this down as a binary result for must so fingers crossed.

[begorrah88] 04/3/2022 15:27

Good spot gerd

[gerd212] 04/3/2022 15:17

Judgement 10:30am on Monday

[begorrah88] 02/3/2022 13:44

I see pineapple came back to market within days of pulling out of their RTO.Taken a hit but at least their shareholders can access some of their investment now.

[begorrah88] 01/3/2022 13:07

Thanks for that dingdong.Very shoddy from Must to think they don't have to bother updating shareholders even when their own deadlines are missed.One if the other counterparties (PRIM) have already updated their shareholders & it is only because MUST have painted themselves into a corner & are now completely dependent upon BMN that they haven't updated anyone.Got to wonder how long MUST would let this drag on without hearing anything back from the Judge.In my opinion MUST have completely shot their bolt & now are totally at the whim of BMN

[dingdong62] 01/3/2022 11:38

From:
Date: Tuesday, 1 March 2022 at 10:59
To: me
Subject: RE: share holder

Hi

We released an RNS in mid-January. As yet we’ve not heard anything from the court in respect to a decision and we haven’t been able to say much given the court proceedings, we’ll be putting out a RNS in the next week about next steps. More than a few counterparties in this transaction so it does take a bit to align everyone in the same direction.

Regards

Dean Gallegos

From: me
Sent: Tuesday, 1 March 2022 9:35 PM
To: Dean Gallegos
Subject: Re: share holder

Dean, 10 months in suspension & not a step further forward from the first announcement.
Why has been no communication from you and the board?

[begorrah88] 01/3/2022 08:16

Maybe the date has caught MUST by surprise & they haven't had time to think of what they were going to do (!)Maybe getting a communication from PRIM will jog their memory about their obligations to the market & their shareholders.Not a lot to ask that they be ready to respond in a timely manner.

[dontay] 28/2/2022 16:58

RNS Number : 0874DPrimorus Investments PLC28 February 2022Primorus Investments plc("Primorus" or the "Company")Backstop arrangements for the Investment in Mustang Energy PLCPrimorus Investments plc (AIM: PRIM) provides an update in relation to its investment in Mustang Energy PLC ("MUST").Further to the options set out within the RNS issued on the 19 January 2022, Primorus has, today, requested MUST to issue the requisite notice to Bushveld Minerals PLC ("BMN") to enact the Backstop arrangements, under which BMN will, at its election, either repay to Primorus the outstanding CLN plus accrued interest or enter into a CLN with Primorus.Primorus will provide a further update when BMN chooses which settlement option, referred to in the 19 January RNS, to pursue.

[begorrah88] 28/2/2022 08:43

Presumably we'll get an update tomorrow telling us that they've bumped it down the road again.10 months in suspension & not a step further forward from the first announcement. Even if some value is salvaged from this farce it will have been nearly a year of everyone's lives delayed by the Garnet play.