Mustang Energy Share Discussion Threads

[begorrah88] 14/3/2022 12:09

The June date seems realistic at the earliest to me.

Once a way forward has been agreed by all parties a prospectus will be drawn up and that could take about a month. Then it has to get approval from the FCA which could take another month then out to shareholders for the vote, once again about a month in total so 3 months from here seems about right subject to delays,appeals from Garnet [not that likely but I don't see them just agreeing to play nice from here on] and more blustering and nonsense from BMN.

I would sincerely hope that MUST will do in depth DD before agreeing anything with BMN who I don't consider the most professional or trustworthy.

AIMHO

[megaman2] 11/3/2022 10:33

To allow for finalisation of negotiations and documentation between


What that says to me is it's not finalised. Must is toast without the deal and as it owns the vfrb-h shares it's actually at this juncture theoretically in the driving seat in that there are now no known obstacles to issuing a prospectus and relisting. They could be negotiating multiple things . The fact that prim have not been notified having given their 5 day notice on 28 Feb for payment from bmn could imply they are still in the frame.

[begorrah88] 11/3/2022 09:20

Kicked down the road for yet another week.My previous hope of them having everything ready to go after this yawning gap of delays seems misplaced.I imagine the likelihood of the next rns being another extension is much higher than it being the issue of the prospectus.

[megaman2] 09/3/2022 12:09

So if must re-lists and clns convert to equity at 20p it's an extra 30million shares plus probably more with interest... at 30 p share price that's market cap of £12 million for owning 11% of cellcube .Ascribing cellcube a market cap of some c £108 million..it's unlikely to be as straight forward as that as it may well come with a cash raise and reversal of all vfrb-h shares at an unknown price .ies was as high as £220 million but now having raised money is languishing at half of that. Having won the cc id like to be presenting some better figures perhaps I'm making an error on the cln conversion but I'm thinking im right ...30 p a share for must is looking all the money atm .unless there is some mega news in the prospectus or elsewhere . I will just be glad to not losing my undies here which is still not a given but at 30 p I will make a half decent profit probably not worth the ride though.

[dingdong62] 08/3/2022 11:29

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:
Subject: RE: share holder

Hi Adrian

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

[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