GGP 0.00% 0.6¢ golden gate petroleum ltd

Ann: Cleansing Statement & Appendix 3B , page-11

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  1. 3,989 Posts.
    Good morning 67shelby,

    "One thing I'm sure of - it doesn't sound good, and cash must be very low to be paying the Interest in shares .. IMO"

    There is a clause in the agreement where interest may be payed by way of GGP shares instead of cash but, your point is well made and it does show exactly how tight cash is and has been for years, no secret there. I wonder how impressed the noteholders are, getting paid monopoly currency ?

    I would like to comment on a couple of points from the 3B but I will wait until next week ? Maybe even the company will beat me to it and announce more news next week ?

    Cheers


    Hi there discotear,

    "I find it interesting Margi, and alarming, that the company announces it's funding options" programme in a 3B. Is that appropriate??"

    "In the interests of full and proper disclosure surely such an activity deserves to be announced to the market in outside of the 3B......."

    I thought exactly that ! Very strange reporting from my limited experience. That type of news has always been divulged in a quarterly, PS ann, etc etc Maybe they have found a triplet partner for Novus and Lind who have even better terms than theirs ? Possible to get better terms ?

    Who would know with this lot ?

    cheers
 
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