andyvxr
15 Jul 2015
Re: : Opening Share Price What we thinking the share price will open back up at, if it does ??Currently 1.84 on the uk exchange.I currently hold 800 shares, but have seen buying in recent months.
CURTIS PAUL
15 Jul 2015
Re: SUSPENSION Bonds now trading around 25 cents!!! Remember it's the new NOTEHOLDERS that are in control because they are supplying the cash. Hence Bondholders will suffer in this new restructuring. And that's obviously not good for equity who are next down the pecking order
CURTIS PAUL
15 Jul 2015
Re: SUSPENSION This is dire news!!!Senior Bonds now trading at 30 cents versus par of 100 cents.SeniorBondholders sitting on 70% loss. Don't you guys understand basic capital hierarchy? Equity has no material value other than listing.
II Editor
15 Jul 2015
NEW ARTICLE: Another nail in Afren's coffin "It's one disaster after another at accident prone LSE:AFR:Afren. In the final stages of a lengthy business review, the troubled Africa-focused oil company has now warned that a slump in production could threaten its restructuring. As a result, it ..."[link]
CenturionSid
15 Jul 2015
SUSPENSION Afren has requested this suspension, it is NOT an FCA imposed one.(FYI; [link] does not mean administration/liquidation.Administration/liquidation is the result of a company being unable to meet its obligations.We have not been told that is the case and there are further funds available under the existing funding arrangements, which counters the NPI issue.The NO vote looms heavily in the minds of the BHs and BOD as unacceptable.If an improved revised offer were now to be put to the shareholders that offered lower dilution, for instance by allowing the Open Offer to go ahead under different terms, and raise further funds, that may enable shareholders to move from a NO vote to an acceptable YES vote. The shares could then be unsuspended, so long as the company has not entered administration, however administration is something BH's would wish to avoid, almost at any cost.Plan A (or a revised version) works for reconstruction. It is becoming more widely accepted now that Plan B does not work for any of the parties.No doubt many would have loved suspension when the SP was at 10p or higher to stop it from falling further or being manipulated or shorted, although there would have been the same fears. There is no way yet of knowing when the suspension will be lifted or at what price it will open.However, there is now a real opportunity for this mess to be sorted on a more equitable basis. Once the recapitalisation is properly agreed and under way the shares should be traded again and the SP will not be affected by all the uncertainty. That is a positive thing.BRSid
HOWRAH
15 Jul 2015
Re: Shares Suspended, need another 30m Some times you must listen to management as they were giving us hints that there would be little left for share holders.How on earth were you expecting more so you must read the message .You had sufficient time to retrieve as much as you can .There are lots of shares you can invest in so move on and do learn from your mistakes and try and read the signals.
Damp Seaweed
15 Jul 2015
Re: Shares Suspended, need another 30m I like the reference to discussing the issues with Bondholders 'and with other stakeholders, as appropriate'I think it makes is very clear where shareholders stand in the pecking order.
WisdomSeeker
15 Jul 2015
Re: Shares Suspended, need another 30m Where does all the revenue from sales go?
WisdomSeeker
15 Jul 2015
Re: Shares Suspended, need another 30m RNS Number : 0641TAfren PLC15 July 2015  Operational and financial update London, 15 July 2015Afren Plc ('Afren' or the 'Company') provides an operational and financial update.As part of an ongoing review of the business plan, it has become clear that the expected level of near-term production is likely to be materially lower as compared to the assumptions announced alongside the proposed Restructuring on 13 March 2015. There is significant uncertainty at this stage regarding the outcome of the review.As the review reaches a conclusion, the Company will be further engaging with the Ad Hoc Committee of bondholders regarding its request for an additional US$30 million in net cash proceeds borrowed under the Bridge Securities, and with other stakeholders, as appropriate, to discuss the potential implications on the proposed Restructuring, including its timeline.Given the material uncertainty of the results of the above-mentioned review, Afren is unable to assess accurately its financial position and inform the market accordingly at this stage, and therefore the Company has requested the suspension of trading in its shares. A further update will be provided to the market as soon as practicable. ENDS
Symore Bottoms
15 Jul 2015
Re: Shares Suspended, need another 30m There is no limit to their incompetency and new management team's credibility is in tatters. This is another example of foul play to blackmail the shareholders, but i say let it go in to adminstrations and take legal action against these fraudsters..
Scooby Doo It
15 Jul 2015
Shares Suspended, need another 30m RNS out on reputable sites, III rapidly becoming a joke.
Paitech
14 Jul 2015
Voted NO today.... There is my 135K votes.... Thank you for your secure message dated 13 July 2015. I apologise for the information you were previously provided which was incorrect. We do not send out notifications for AGMs, EGMs or any special company meetings which may have Voting rights attached. If you wish to attend or vote by Proxy at any company meetings, you can contact us by Secure message or by phone and we can take the instruction from you. I have passed on your voting instruction that you wish to vote no, to our Corporate Action department to register on your behalf. Our Corporate Actions department will register this voting instruction and issue it with all other votes received to the company. Should you have any further enquiries, please do not hesitate to get in touch again. Our response time to secure message or email is usually 1 working day, although in times of high volumes we may take up to 5 working days. Yours sincerely Neil Fraser Customer Services Executive Interactive Investor
rat machine
14 Jul 2015
Details for voting Have just registered my intention to vote NO with selftrade.To be honest I had quite a hard time; at first there said there was no deadline given and couldn't register my vote. However after a bit of a discussion they said they woud check. They then phoned back with other questions, but I digress.The details you need are:General Meeting of Afren plc(the “Company”
will be held at 11.00 a.m. on 24 July 2015 at the offices of White & Case LLP, 5 Old Broad Street, London EC2N 1DW
sealpro3
14 Jul 2015
no just registered my no vote on iii very simple and helpful staff
CenturionSid
14 Jul 2015
Some YES Vote Reminders POSITIVE Issues.Shareholder value at 10% ownership of the company.Open offer at 1p per share.Company refinanced - continues trading.10% future growth attributable to shareholders.New management team.Probable survival of the company.NEGATIVE Issues90% value of the company taken by BHs.Shareholders have to pay for part of their own refinancing via an Open Offer.Does the refinancing offer enough liquidity to trade forward?90% control of the company will be in the hands of the BHs.Existing shareholders will never have any say by vote.Existing SHs have no trust that BHs will do what they say they will do.Can Alan Linn run a company with total SH contol in hands of BHs?Will BHs simply sell off assets to pay down their debt?Will BHs milk the company of cash to pay down debt.There is a twice yearly cash sweep to remove 50% of all cash generated.Costly advisors permanently in place.Will BHs take the company private and remove all value.Can the BHs carry out their new business plan (one of the risks identified in the prospectus)If Afren value rises to £1 billion SP under Plan A SP will only be 9p.
