Mustang Energy Share Discussion Threads

[begorrah88] 03/8/2022 10:26

Thanks dingdong

[dingdong62] 03/8/2022 10:20

reply from Dean at Mustang Energy to me this morning.

Date: Wednesday, 3 August 2022 at 09:16
To: Adrian
Subject: RE: Mustang Energy

Hi Adrian

Given what occurred when we made our initial investment in VRFB Holdings in April 2021 we have deliberately held our cards closely so as not to relay what we are doing until we have done it. But I will say despite our best efforts this has progressed extraordinarily slowly which is a source of great frustration to all.

You will see that in the other instances where we have had to extend the Maturity Date of the Convertible Loan Notes (CLNs) we have not given an update until the documentation has been executed with the numerous counterparties on that extension. The agreements allow up until 28 days after the Maturity Date of 31 July 2022 to put in place that extension or redeem the CLN’s.

We are currently in the FCA prospectus process and our plan is get a bit further along that process so we can better determine how much more of an extension we might need to request from the holders of the CLN’s. The vagaries of the FCA process is that there is no set timetable, which makes adherence to expected timelines difficult.

We have been progressing on other fronts and the part of the fruits of that progress was released this morning. Mustang is the only listed company in which I hold shares or a director of and so I am as keen as anyone to have the shares relisted.

Regards


Dean L Gallegos
+ 61 416 220 007


Managing Director

[megaman2] 03/8/2022 09:03

I think I'm right but the c$10 mill acquisition pricee is attributing a current value to cellcube of c $80 million at must 20 p per share . There will be more bits of the jigsaw to in include almost certainly a cash raise to be figured in with dilution as cellcube needs cash . This is there notional value it's up to what the market values it at when they eventually list.

All we have to compare it to is invinty at £44 million.

[begorrah88] 03/8/2022 09:02

Either MUST have submitted the prospectus (if it has even been submitted yet) with this detail in but without having informed the market or shareholders or the whole process will now have to start again from scratch.

[megaman2] 03/8/2022 08:52

I think it's normal process for a spsc . All the target company shares reverse in. Almost certainly the plan quite why it's taken this long to announce is the real mystery imo. Also why bmns vfrb shares are not reversing in ?

I'm sure in an ideal world they would also want the other 50% to reverse in although the court case would indicate that may well not happen..

[begorrah88] 03/8/2022 08:47

This is the best part of what I can make of it.'As part of the transaction, Acacia and the Company have agreed to enter into a relationship agreement and a lock-in agreement. Further details of these agreements will be set out in the Company's forthcoming prospectus.'At least Acacia won't be able to dump on day one if MUST ever does get back to market.Beyond me why they would be doing this before readmission - just seems like a whole new raft of conditional hurdles & potential problems to throw in the way of relisting.

[megaman2] 03/8/2022 08:43

Better late than never. Surely this was the expected step ? It's certainly what I expected so great news acacias vfrb shares reversing in . Surely bmns share will follow.

As long as this goes ahead and I see no reason why not it was what was to be expected. Any doubts have now been removed.

Just waiting to see if any of bmn assets from be carve out get thrown in to in return for must equity and oerhaps that happens post listing but makes financial sense to me as I've already previously posted .

Just relieved it's going ahead to be honest and all is notost..

[begorrah88] 03/8/2022 08:39

Oh dear, even more complications & delays & looking like the SPAC is going to be used to park it all in.I don't profess to understand the machinations of it all but seems as though Acacia just moving assets around & yet more confusion for trying to get resisted.

[megaman2] 03/8/2022 08:00

waiting to see if the sword of Damocles falls...

[begorrah88] 02/8/2022 14:51

We all know it has missed the dates it put out & isn't going to be able to issue a prospectus, have it accepted & relist by Friday so that date is irrelevant.They should update the market once they have missed the date, not squirm around & try & avoid updating shareholders until they really have to.An update would be to tell us what is happening. If there is an issue then say so. We are not even on the market so there isn't even 'market sensitive information' to hide behind.Maybe the CEO can only get £500 per day out of the ATM so will keep us all in the dark until he's got everything out he can.Either that or FM just isn't answering his phone or any emails.

[megaman2] 02/8/2022 13:36

Actually yes dontay I've changed my post your right! Still frustrating....and have left shareholders dangling waiting to see if they give notice or not...clearly must is a busted flush if that happens so it's not a good situation to put us in when hopefully that is not the course of action ...it's mild unneeded torture ..hopefully..

[megaman2] 02/8/2022 13:26

The parties to the Investment Agreement, including the Company, have agreed to extend the Maturity Date until the 31 July 2022 to allow for the preparation of a prospectus and review process of that prospectus by The maturity date is 31 July to allow for prospectus etc so what's happened as that day has now passed...

[dontay] 02/8/2022 12:42

Investors who have read the applicable RNS know the deadline for exercising the backstop arrangements is actually 5 business days starting 31July.Therefore, on Friday this week the market should be informed how far they have got with the prospectus/rto plans and if or not the FCA have inserted any delays into the process.

[begorrah88] 01/8/2022 08:37

It is amazing how Fortune Majapelo manages to entrance these other people & companies into his web. Once in his web they are trapped, nothing ever progresses, no clear answers given, everything subject to something else happening etc

He is like some sort of pied piper and the likes of MUST are the rats heading towards the river, completely in thrall to him.

[begorrah88] 01/8/2022 07:06

Now this really is sticking two fingers up to shareholders!

IS the CEO too busy getting this months £10k+ salary out of the ATM to remember to send out the latest 'reason for failure' RNS to the shareholders that bought into MUST?

[megaman2] 31/7/2022 10:57

Supposedly relisting tommorrow deadline...silence..

[megaman2] 25/7/2022 08:22

Notwithstanding their belief that the Company, in line with its strategy, shall
have sufficient working capital to meet its needs following Readmission, the Directors anticipate
that the Company shall, concurrent with the Readmission process, seek to raise additional
finance to fund further acquisitions and for further working capital purposes.


Just some text from annual report backing up my theory .."to fund further acquisitions"

[megaman2] 21/7/2022 18:36

Can't argue with that if it does include bushveld energy fortune said "hopefully"end of year in reference to carving bushveld energy out

They are not known for their timely delivery....

[begorrah88] 21/7/2022 14:40

They are required by the regulator to update the market at month end so yes, there will be an update soon.Thanking shareholders for their patience is a bit rich - they have no choice but to wait.I'm going for kicking it down the road to year end (& then missing it again!)

[megaman2] 21/7/2022 10:40

𝐌𝐮𝐬𝐭9834;𝐧Ү40; 𝐄𝐧𝐞𝐫9840;𝐲 𝐏𝐥𝐜
@Mustang_Plc
·
1h
The relisting process is ongoing, there is likely to be an update soon. Thank you to our shareholders for their continued patience.


Update....= Long delay ...imo

[begorrah88] 20/7/2022 18:29

The thought of Fortune Majapelo having zoomed MUST into another of his schemes fills me with dread.Does it end up with him securing a nice new role in MUST & it becoming his lifeboat away from the disaster at BMN?I assume they are that far into this mess that they have to keep going forward.