Ncondezi Energy Share Discussion Threads

[dontay] 25/9/2018 18:44

The next bit of news will be that the paperwork for the loan restructure has been completed as expected. The formalities for that were hoped to be completed by the end of this month so provided the procedure stayed on track an RNS to that effect should appear sometime before the end of next week.No doubt any RNS will also reiterate that an update on the terms of agreement for a binding JVA and the release of substantial funds for the project which is supposed to be dependant on someone who has yet to be appointed signing a non-binding letter of approval... will be given once that appointment had been made and some form of letter of approval has been received.

[m1sak] 25/9/2018 13:47

Sorry, meant 7.45p.

[m1sak] 25/9/2018 13:07

Price continues to falter, I topped up yesterday at 6.45p

Should have known better.

Hopefully, this time round, we will get it right.

[cl0ckw0rk0range] 22/9/2018 16:27

https://southerntimesafrica.com/site/news/sadc-countries-move-to-boost-energy-sector"According to the EnergyCyclopedia, an online industry and energy journal, Mozambique's potential is one of the highest in Africa with substantial energy sources ranging from fossil fuels to renewable gases." #NCCLBosh

[cl0ckw0rk0range] 22/9/2018 16:26

"This loan roll over plan is already priced in by the market because ALL lenders ARE agreed, that HAS been publicly stated, and there is zero possibility that anyone else from here on in is going to chuck it out!"And you know that this is priced in how exactly? Oh that's right, you don't. Not so subtle attempt at deramping #epicfail

[dontay] 21/9/2018 13:32

Ncondezi has received "in principle" support from all loan holders ("Lenders") to enter the Loan restructuring proposal as announced on 10 August 2018 (the "Restructuring"). Documentation for the Restructuring has been submitted to Lenders and is in the process of being finalised. All Lenders have indicated that they will not call in the Loan whilst the Restructuring is being finalised. The Loan currently matures on September 2, 2018. The Restructuring is subject to the lenders agreeing to the documentation, as well as shareholder approval for the necessary share authorities to undertake a contemplated debt for equity swap in relation to the Loan.The proposed Restructuring would constitute a related party transaction for the purposes of the AIM Rules for Companies. Accordingly, should the Restructuring be accepted by all Lenders and before signing, the Company's Independent Directors will need to consider, having consulted with Liberum Capital Limited, the Company's nominated adviser, that the terms of the Restructuring are fair and reasonable insofar as its shareholders are concerned.· Company Chairman, Michael Haworth and Non-Executive Directors, Estevao Pale and Chris Schutte signed irrevocable commitments on 29 August 2018 to enter into the Restructuring on terms agreed by the other Lenders.

[dontay] 21/9/2018 12:44

100% of all lenders have already agreed in principle to the loan restructure plans and they have agreed to not demand their money back whilst the paperwork formalities are completed. As per that last RNS that is expect to be done and dusted around the end of this month. Another RNS will no doubt be issued confirming it and outlining what the timescale is for it to be sent out to existing shareholders for their approval.The conversion to equity at 10p is simply one of the options under the proposals, not a separate issue that requires a separate agreement from the lenders. All that's being sorted at the moment is the formal documentation for the loan roll over agreement (in its entirety) so it can then be put forward for approval by existing shareholders and once that formality has been completed, it goes forward for approval by the AIM regulators. This loan roll over plan is already priced in by the market because ALL lenders ARE agreed, that HAS been publicly stated, and there is zero possibility that anyone else from here on in is going to chuck it out!

[imjustdandy] 20/9/2018 08:40

Will shoot through 10p once 100% of loan holders agree to convert at 10p. Then onto dizzy heights on JDA. Loan holders wouldn't be converting at 10p if the didn't think JDA was a done deal . Boom

[imjustdandy] 19/9/2018 08:17

Loan conversion sets a new floor at 10p. JDA takes us to 40p. Both imminent.

[kingkongtimmo] 17/9/2018 20:04

I couldn't disagree more.

[daddy warbucks] 17/9/2018 16:34

Please don't shout at me but a genuine question. We have seen. Blocks of 25,50 and 100k shares being bought in the market. Could these shares have been forward sold by the people owning the loan?Yes I know they have a 10p value when swapping debt for shares but a bird in the hand so to speak may be appealing to some.

[devonlad] 17/9/2018 15:23

3 50k lots, 100k and 25k picked up today, I wonder if a fund is buying in?

[thetrophyman] 14/9/2018 23:18

Loan note agreed in principle already. Expecting to be inked at the end of the month, market won't see this over 10 until some meaningful contracts are signed... and then it might fly...

[thetrophyman] 14/9/2018 23:14

Excellent *Blast Off* today BJ... great call...

[cl0ckw0rk0range] 14/9/2018 10:56

They will soon enough..

[imjustdandy] 14/9/2018 06:46

10p will be the new base once loan note holders agree the conversion. 60% already agreed to do that. No it won't hit 10p tomorrow but it will once 100% of loan note holders agree.

[thetrophyman] 13/9/2018 23:28

Ain't gonna hit 10p tomorrow ... lol

[beetroot juice] 13/9/2018 22:09

Ready to Blast Off..For Certain..Big day coming here tomorrow..Looking forwards to it myself..Be great to see 10p fall once and for all.

[imjustdandy] 13/9/2018 21:35

Massive re rate coming as we approach JDA sign off. The 10p conversion price sets a new base. Very exciting times but nobody appears to fully understand.

[cl0ckw0rk0range] 13/9/2018 13:00

MH stepped down from ZIOC to give full attention to other projects, guess which one...

[imjustdandy] 13/9/2018 07:55

Agree clock. Watch it go now from here on in.

[cl0ckw0rk0range] 11/9/2018 21:59

Ridiculous drop in the first place to be fair but appreciate the buy op.

[kingkongtimmo] 11/9/2018 19:43

Superb late rise today, roll on tomorrow

[dontay] 07/9/2018 11:52

That seems to me to actually be a pretty fair and reasonable interpretation of events... and a valid explanation for the differences that were evident between the RNS and the podcast.