I would expect something to be happening in the 1st Quarter as far as any special dealings or signatures needed for PSPW before the middle of May before Ramadan begins, otherwise 30 more days throughout Ramadan and its almost summer.
I was told Mr. Falaknaz is a very faithful and Religious person, and this appears to replicate that from the article.
Info from menasat transfer.
During the last year, the Armstrong Watson Restructuring, Recovery & Insolvency team has been involved in a number of cases with an International element to them. Clearly, this brings additional challenges such as variances in legislation, working patterns and not to mention differing languages!
The following examples showcase the work of the Armstrong Watson’s Restructuring, Recovery & Insolvency team:
Not your usual business sale
As you may recall, Mark Ranson, Mike Kienlen and Daryl Warwick were appointed as Joint Administrators over the Penman companies at the end of August 2016.
One of the entities we were appointed over, Penman Engineering Holdings Limited, was the intermediate holding company and held 100% share holding in Aardvark Holdings Limited (“Aardvark”). Aardvark owed 100% of the share capital of Aardvark Clear Mine Limited (“Clear Mine”), a company which as its name suggests manufactured and designed land mine clearance machines. The machines produced by Clear Mine are widely regarded as the most effective landmine clearance system in the world.
Despite the insolvency of other companies within the groups, neither of the companies were insolvent and held sufficient cash to enable them to continue to trade in the immediate short term. Since the successful sale of the share capital in Aardvark would generate funds into the Administration of Penman Engineering Holdings Limited, the Joint Administrators were keen to keep Aardvark and Clear Mine outside of an insolvency procedure in order that they could pursue their solvent sale.
Once the Joint Administrators had completed the sale of Penman Engineering Limited in November 2016, their attention then turned to how best to maximise the value of the share capital in Aardvark. The directors of Aardvark had already been generating awareness of the business and the Joint Administrators agreed to the engagement of a specialist consultant to over see and facilitate the sale.
Following the efforts of the directors and consultant, expressions of interest were received which ultimately resulted in the Joint Administrators entering into formal negotiations for the sale of the Aardvark share capital.
There were a number of hiccups and stumbling blocks along the way, including a delay to the sale for Ramadan in the purchaser’s home country. However, the Joint Administrators were able to agree the sale of the shares to Menasat Gulf Group.
It is therefore with much relief to all involved that the deal finally completed at 7pm on Thursday 27 July 2017.
http://www.armstrongwatson.co.uk/blog/2017/10...ernational
I was told Mr. Falaknaz is a very faithful and Religious person, and this appears to replicate that from the article.
Info from menasat transfer.
During the last year, the Armstrong Watson Restructuring, Recovery & Insolvency team has been involved in a number of cases with an International element to them. Clearly, this brings additional challenges such as variances in legislation, working patterns and not to mention differing languages!
The following examples showcase the work of the Armstrong Watson’s Restructuring, Recovery & Insolvency team:
Not your usual business sale
As you may recall, Mark Ranson, Mike Kienlen and Daryl Warwick were appointed as Joint Administrators over the Penman companies at the end of August 2016.
One of the entities we were appointed over, Penman Engineering Holdings Limited, was the intermediate holding company and held 100% share holding in Aardvark Holdings Limited (“Aardvark”). Aardvark owed 100% of the share capital of Aardvark Clear Mine Limited (“Clear Mine”), a company which as its name suggests manufactured and designed land mine clearance machines. The machines produced by Clear Mine are widely regarded as the most effective landmine clearance system in the world.
Despite the insolvency of other companies within the groups, neither of the companies were insolvent and held sufficient cash to enable them to continue to trade in the immediate short term. Since the successful sale of the share capital in Aardvark would generate funds into the Administration of Penman Engineering Holdings Limited, the Joint Administrators were keen to keep Aardvark and Clear Mine outside of an insolvency procedure in order that they could pursue their solvent sale.
Once the Joint Administrators had completed the sale of Penman Engineering Limited in November 2016, their attention then turned to how best to maximise the value of the share capital in Aardvark. The directors of Aardvark had already been generating awareness of the business and the Joint Administrators agreed to the engagement of a specialist consultant to over see and facilitate the sale.
Following the efforts of the directors and consultant, expressions of interest were received which ultimately resulted in the Joint Administrators entering into formal negotiations for the sale of the Aardvark share capital.
There were a number of hiccups and stumbling blocks along the way, including a delay to the sale for Ramadan in the purchaser’s home country. However, the Joint Administrators were able to agree the sale of the shares to Menasat Gulf Group.
It is therefore with much relief to all involved that the deal finally completed at 7pm on Thursday 27 July 2017.
http://www.armstrongwatson.co.uk/blog/2017/10...ernational
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3Power Energy Group Inc (PSPW) Stock Research Links
All of my posts are my opinion only and are not meant to be investment advice.
