Ncondezi Energy Share Discussion Threads

[thetrophyman] 30/8/2018 21:36

When Hanno mentioned the letter, I couldn't help thinking of one of those permission slips your kid brings home from school, in which the school is seeking your permission for said kid to travel on the bus to compete in the rugby match...

[druidinvestor] 30/8/2018 21:15

The terms of the 'restructuring' are as per 10th August RNS, which have now been agreed with the other lenders. This is confirmed in the podcast (33% premium to the share price the day before the announcement). The 'support package' is a request from GE/CMEC to EDM/Mireme to show their commitment to the project. As per the podcast this could simply be a letter of intent from them or a non binding MOU. The RNS was not very well worded and slightly confusing. Thankfully the podcast cleared up some of the doubts.

[dontay] 30/8/2018 19:13

Mm... The loan roll over as been agreed with the others and as previously stated will take at least another month before that side is finalised. However the insiders' are now said to have signed on to the "other lenders" terms... and as yet, we have no idea how those other lenders terms may differ from the recently proposed package.The workshop meetings which were supposed to finalise things obviously didn't turn out to be as conclusive as hoped. The Africans want to see evidence of the commitment by the proposed 3 way partnership with a binding JVA signed, sealed and delivered in place... and presented with a "supporting package" underlining a commitment to meet the timelines and local plans recently put forward in their 'white paper'. The projected timeline for a binding JVA was 3 months (from end of July) This RNS states that those JVA and supporting package plans are still being negotiated... hopefully they will be able to stay on track with that and get those proposals in place and submitted to the African negotiators by the end of October. The share price will probably trundle around the currant level until then.

[cl0ckw0rk0range] 30/8/2018 16:11

Enjoy it's a very informative podcast!

[glasswala] 30/8/2018 16:09

thanks NAV-Mike for the podcast link!

[glasswala] 30/8/2018 14:58

thetrophyman & cl0w0rk0range please post link for Vox podcast

[cl0ckw0rk0range] 30/8/2018 14:35

Good podcast, very reassuring this is moving in the right direction, JDA sounds like it could be here very soon.

[thetrophyman] 30/8/2018 13:37

Hanno on today's Vox podcast

[daddy warbucks] 30/8/2018 12:40

"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."Is the final part of the paragraph the same as the 10p a share to redeem the loan as in the 10th August RNS, or could it be cheaper.?Hopefully it will be clarified when everything is signed.Good luck to all holders.

[imjustdandy] 30/8/2018 11:14

Slowly but surely. Tantalisingly close now to the winning line.

[thetrophyman] 30/8/2018 10:50

*in principle* agreement is good.. and this is positive: In the meetings, both EDM and MIREME emphasised the need to align the Project development timeline with the current regional market environment and planning, as well as the need for a support package to progress the Project and the JDA. These are currently under negotiation.

[cl0ckw0rk0range] 27/8/2018 18:21

I find it peculiar Dandy how these posters suddenly feel the need to comment, the content of which is of so subtly negative, but have been silent up until this point? Odd that. I wonder have they actually spoken with the company or are they just helping us shareholders out with their view? Laughable.

[dontay] 27/8/2018 16:57

- The Restructuring would be subject to all Lenders agreeing to the terms and documentation, as well as shareholder approval for the necessary share authorities to allow conversion of the Loan into equity-- Restructuring documentation is expected to be concluded prior to 2 September 2018 and share authorities are expected to be received prior to the end of September 2018-- A further update to shareholders will be provided at the end of August 2018 before the Loan's current maturity date on 2 September 2018.Related Party TransactionThe 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 need to follow due process to confirm that the terms of the Restructuring are fair and reasonable insofar as its shareholders are concerned.

[imjustdandy] 27/8/2018 15:25

Just ignore them clock. On the home stretch now so conserve energy for the big party

[cl0ckw0rk0range] 27/8/2018 10:25

The SHL was a bridging loan initially and wasn't originally intended to be a long term facility, as such it's not as straight forward as you may think to restructure due to the format, and in answer to your question AFC must have proposals submitted and agreed at board meetings so their side of things won't be agreed until the next one takes place, I appreciate you seem to want to put a negative slant on proceedings but I shouldn't think that there was cause for concern re AFC agreeing to something in their interests.

[splatted] 26/8/2018 15:19

Good balanced post.

[dontay] 26/8/2018 13:41

clockOrkOrange... not really ignoring the possibility of the workshop meetings have been concluded. They could have been concluded in the last few days... given what was said about the teams being ready and August being expected to be a very busy month etc.ect. in the podcast... I think it's unlikely. But you never know till you know and they might go on into September... who knows... maybe even October! Ha ha! The only REAL thing that matters is no-matter how long it takes... we get the outcome from the meetings and a professional contract that would give us confidence for the future in the African end and which all investors want to see. I for one would like to see this progressing to an eventual share consolidation exercise sometime 'down the line' and an application being made to a main man market listing... then we might see this as a way forward for making some 'proper' investment decisions rather than a 'get rich quick' punt! On the subject of the loan restructure... they have known since forever that the current loan agreement would need... err... restructuring by the 2/9th. I'm puzzled why negotiations with the AFC who are a major shareholder has been left to the last minute. For me, it doesn't inspire confidence! Or have they left it to the last minute? Has there been some problems? Also, ... they have to have a majority agreement from all shareholders before any restructure can be counted as accepted. End of August next Friday... they need to get a move on!

[hvs] 26/8/2018 13:18

It's a well known troll that lives in a swamp under a bridge, obviously has nothing better to do and got too much time on its 'hoofs'.

Best to click the ignore button then you won't see its droppings!

ONE MUST BE VERY DESPERATE.

[dontay] 26/8/2018 13:04

It's a well known troll that lives in a swamp under a bridge, obviously has nothing better to do and got too much time on its 'hoofs'.Best to click the ignore button then you won't see its droppings!