rambler
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Post by rambler on Nov 15, 2017 18:03:32 GMT
This has been 'coming soon' for some time. The info says '.. we are getting the long term offer ready to open for investment in the autumn'.
Does anyone have an update on this?
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Steerpike
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Post by Steerpike on Mar 13, 2018 15:51:05 GMT
Ofgem blocking progress?
Long-term debenture postponed.
Not looking too clever just now.
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scc
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Post by scc on Mar 13, 2018 16:02:25 GMT
Aye it's a tricky situation. Fingers crossed it comes good for them (and those who've invested). The long term debenture was quite a big offer as the platform goes and taking a while to fill too. They are bound to struggle if/when they reopen it.
Interesting that it has occurred to as they seemed to have had a decent track record in these installations.
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Post by Deleted on Mar 13, 2018 16:09:10 GMT
Where did you find any information on this? All I have is a refund statement to my email, zero explanation there or that I can see on the site!
Does this have a knock on effect on the existing M**** V***** debentures?
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scc
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Post by scc on Mar 13, 2018 16:13:23 GMT
Where did you find any information on this? All I have is a refund statement to my email, zero explanation there or that I can see on the site! Does this have a knock on effect on the existing M***** V***** debentures? An email was sent to investors.
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seb8072
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Post by seb8072 on Mar 13, 2018 17:58:46 GMT
I invested in this because I thought it was relatively safe compared to some of the other P2P stuff. Seems like I was wrong - another one to loose sleep over!
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beh
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Post by beh on Mar 13, 2018 18:26:15 GMT
Wait and see I guess, nothing to lose sleep over yet.
Seemed like they were struggling slightly to fund the second debenture anyway.
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Steerpike
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Post by Steerpike on Mar 13, 2018 18:43:37 GMT
There are three pages in the offer document detailing the risks and that is why 12% was offered.
In any event it seems likely that, perhaps quite soon, investors in the first debenture will agree to transfer their investments to the (revised) long term debenture and this will not be a bad outcome if Ofgem (eventually) pass the RHI application(s).
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scc
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Post by scc on Mar 23, 2018 17:37:20 GMT
Expect an update around middle of next week, according to an email from Abundance.
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Post by wottalot on Mar 29, 2018 12:56:36 GMT
Expect an update around middle of next week, according to an email from Abundance. Erm ........... it is now 'the middle of next week' .... so where's the update ?
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seb8072
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Post by seb8072 on Mar 29, 2018 14:36:42 GMT
'the middle of next week'; it's a bit like "tomorrow" - it never comes!
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Post by johnny on Apr 5, 2018 10:27:16 GMT
With another update delay I do wonder when will be a good time to start losing sleep!!
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scc
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Post by scc on Apr 5, 2018 12:43:20 GMT
I was amused to read that it all now hangs on some Offgem bureaucrat who belatedly announced their easter hols on Sunday evening. It's like some kind of Ealing comedy now Perhaps we should organise a mass easter egg sending for their return to keep them sweet.
I'm pretty confident we'll get our cash back - but perhaps over a longer time horizon than was originally planned. I'm very doubtful they'll make the 30th April deadline.
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Steerpike
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Post by Steerpike on Apr 24, 2018 15:57:33 GMT
24-Apr-18 PM Are you planning on releasing an update soon?
"We are sorry that M***** V***** CHP have not been able to provide an update sooner. They are still awaiting the conclusion of the process with Ofgem in order to be able to come back to investors with a proposal for how to proceed. In any case, M***** V***** CHP will be sending out an email this week to provide an update on where things stand."
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Steerpike
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Post by Steerpike on Apr 30, 2018 13:12:47 GMT
From the offer document December 2016:
"How long is my investment? 1 year, with a maturity date of 31 January 2018 unless we extend up to but no later than 30 April 2018"
So a full or partial repayment and/or communication of a proposal is due today.
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