The OTC-man
09 Mar 2016
Re: EFFECTIVE DATE I have written to the board of directors of my bank preparing them to stand by to receive my loan note payment. Sufficient space has been cleared in my account giving enough room to receive these funds. Can't wait! Champaign on ice. Surely it will happen... won't it?... Won't it??
pete44
08 Mar 2016
EFFECTIVE DATE According to everlongshot's email the effective date is tomorrow ( 9th. March. )A decision is now required within the next 14 days ( 23rd. March )The divi ( 5p ) can then be paid before before the start of the next tax year (5th. April )CHUCKLE, CHUCKLE MUCH LAUGHTER...Don't think we will see a penny.But you never know... if the big boys wanted the money... then we will get it??????
Guyfawkes
07 Mar 2016
Over and Out The expiry of the possible CVR payout is imminent and looks set to pass without any result for former shareholders.
evenlongershot
11 Feb 2016
Re: CVR timetable I emailed FTO through their website to ask about timings etc. A protracted not particularly helpful email exchange followed. Read from the bottom up if you are are interested although you may find staring at wallpaper more enlightening:Thank you for your email again.As a private individual who had Fortune Oil shares in a nominee should contact his/her broker.In connection of the timing, this has to be after 8 March 2016, which is the expiry of the 12-month following the Effective Date 9 March 2015.RegardsFortune Oil Limited Maybe I'm being really unclear?! I get that there are conditions. I get that it might or might not be paid. But can you tell me if you or another corporate entity will notify holders that is is or isn't being paid. That's the question! And if you will notify us how and when will you do that??Thank youThank you for your email again.As stated in the Scheme Document, the CVR consideration will be paid or issued only if both of the conditions are satisfied prior to the expiry of the 12-month following the Effective Date 9 March 2015.Regards Fortune Oil Limited OK so if I understand this correctly if the CVR is not to be paid we won't hear anything? And we should assume it has lapsed?Thank youThank you for your email again.We are now a private limited company and there is no longer a requirement for Fortune Oil to make any announcement to the UKLA/LSE. Regards Fortune Oil Limited Thank you for your response. I am indeed a holder via a nominee account. My question really was how will you notify holders whether the CVR will be paid in full/part or not at all? Will you issue an RNS? Or some kind of press statement, or if the directors decide not to pay the CVR will it just lapse with no announcement? Surely you have to update the holders/market as to your intentions re the CVR and that is what my enquiry is about. How will you do that i.e make an announcement, where will it be found and when will it be decided and announcement made? Thank you Dear MadamThank you for your email.Your name did not appear on the share register of Fortune Oil PLC, a private individual who had Fortune Oil shares in a nominee should contact his broker. If you had been the registered/certified shareholder, please state clearly the full registered name, address and your IVC (investor code).From the Company's website, you can download the Scheme document by clicking the web link below, then click the bottom of the disclaimer, "I agree" to download the Scheme Document therein. [link] you were referring Contingent Value Right (CVR) to receive 5 pence in either cash or if so elected, loan notes, you should refer to p.13 of the Scheme Document.The further CVR is up to 5 pence and the CVR consideration will be paid or issued only if both of the conditions are satisfied prior to the expiry of the 12-month following the Effective Date 9 March 2015 in order for such Scheme Shareholders a further 5 pence in either cash or Loan Notes by way of a CVR. The Trigger Condition is listed out on p.13 of the Scheme Document. On p.15, the Independent Fortune Oil Directors believe that a sale or some or all of the China Gas Holdings Shares is unlikely.Again, please note the last sentence in the paragraph of information on CVRs in the below announcement of 9 March 2015, the minimum payment under the CVRs could be zero. Dear SirsAs a Fortune Oil share holder prior to the take over please can you let me know as and when and if the 5p CVR will be paid in 2016?Thank you
Phillip Reid
28 Jan 2016
Re: CVR timetable Hi PeteThanks for the confidence mate, but I haven't a clue!I like the angle on it - thinking outside the box! What I try to do!I doubt that concept of it though.It seems CGH have been pulled down by all the unreasonable (another word springing to mind would be banned on here) media speculation about China and the slowing GDP - economy - hitting all markets, bothe East and West. There is strength and weakness in keeping things, shall we say, a little opaque, and the weaknesses are in full flow at the moment. The weakness definitely on the side of our ex-BOD with CGH at 9.54 HK dollars as I write.Kind regards to all the old faithful.
evenlongershot
27 Jan 2016
Re: CVR timetable I like your thinking, very much like your thinking, although suspect it might be on the wishful side! Thanks for your suggestions re time frame.
pete44
27 Jan 2016
Re: CVR timetable I'm no expert but consider the following:-The CVR's will be created by a resolution of Fortune Dynasty Directors......within 14 days of the EFFECTIVE DATE ( Not sure what the effective date is?? If the effective date was the date of FO General meeting, then that was 11th. February, 2015 therefor add 14 days that makes end of Feb i.e. 25th. Feb. )None of the PI's think we shall receive anything but where money is concerned think of the very large investors in FO who stand to lose out on a lot more money than we do. I wonder ( just a thought ) whether FD have sold shares when the price was well above HK$ 11 which was a reason for the decline in the share price earlier on, in preparation for the CVR's'Would like to hear from a more expert view. ( PR )As I said earlier ....JUST A THOUGHT
evenlongershot
27 Jan 2016
Re: CVR timetable? Me neither, but presumably they have to actually tell us that they are shafting us?! Some announcement, somewhere? My question was when and where - any ideas?
Roger Baron
26 Jan 2016
Re: CVR timetable? Sorry, but even in my wildest dreams I don't expect to get anything from a Fortune CVR!Not given up hope in a return from an action group legal challenge post CVR deadline though.
1nve5t0r
26 Jan 2016
Re: CVR timetable? Over the last few years I have noticed just how small investors have been shafted by directors and major players in the stock markets around the world, I am not saying all of them, but certainly some of them, the timing of certain share price movements prior to stock announcements, I don't want to sound naïve, but I believe the internet is our best weapon against them, firstly find out who they are, internet names, company names, individual names any news about them, directors moving from a company that has just been shafted to another company and then collectively selling our stock in those companies before that particular individual sets foot in their door. Again I know this sounds naïve but I believe collectively we can make a difference, if you agree with me please copy and paste and add any info you may have to as many investors on the internet or anywhere else you can.Numbers count - small investors, collectively can take on the major players.Good luck to you all
evenlongershot
26 Jan 2016
CVR timetable? Just assume (in our wildest dreams in la la land) they do make the 5p payment, or even if they don't at some point they're going to have to tell us whether it's due or not so either way there should be some form of RNS wouldn't there? does anyone have an ideal of the expected timetable or place of posting re announcements?
Roger Baron
13 Dec 2015
Re: Long Term Holders -Rights Issue? Sorted it after all! Found some more contract notes.
Roger Baron
11 Dec 2015
Re: INFORMATION ONLY I have never thought we had the slightest chance of getting anything out of the CVRs Pete.
pete44
11 Dec 2015
INFORMATION ONLY It's no good being optimistic about the CVR's when shares in China Gas are being so manipulated as it gets closer to the closing date for CVR's to become applicable.Today the lowest price for China Gas was 10.04 and finished at $HK10.18 well below the $HK11 threshold.
Roger Baron
11 Dec 2015
Long Term Holders -Rights Issue? I am belatedly trying to sort out my CGT return for last year and can't get my numbers to add up for Fortune.Can anyone remember (or even better, have a record of) a Rights Issue for Fortune. If so, when was it, what price and what were the terms?Barclays don't issue contract notes for Rights and I am having difficulty reconciling my trades over the years (since Feb 1997!) with the number of shares held at close of play.Thanks
