Big Banc Split Corp T.BNK

SAFE Approval

[werdnapk]

From https://www.nortonrosefulbright.com/knowledge/publications/62023/outbound-chinese-equity-investments-understanding-the-regulatory-approval-process

In practice, SAFE approval is usually obtained within two weeks.

How long has it been now?  I'm guessing approval should occur any day now.  I bought more @ 1.99.

[mohsin6]

SAFE is not the issue. In any case SAFE can take if you have read articles can take time. It is not the main concern.  The deal of the arrangement is the main contentious issue now until July 31. If SAFE does not give answer by July 31st the deal on the table is over.  However, a deal can be extended if both partied agree to extended of which it has not happened as of yet.  SAFE is

[ChupacabraBueno]

mohsin, you say "SAFE is not the issure... its not a currency exchange issue" - Where are they in the process? I've provided a link below re. regulatory approval process of Outbound Chinese Equity Investments - they have this to say about SAFE: SAFE: After obtaining NDRC approval and MOFCOM approval, an application will need to be made to SAFE for the transmission of foreign currency

[braincloud]

I don't know why you guys are speculating on this issue. Unless any of you know for sure one way or other the only thing left to complete this deal is SAFE approval . If Geo has or hasn't raised the funds is an unknown . The only folks that have even the slightest knowledge would be the insiders of BNK. Maybe even they don't know for sure but their actions speak volumes . They bought

[1condor]

Well said braincloud.

[ChupacabraBueno]

bcloud, if there are just 2 hurdles to clear, SAFE and funding, of course this board should be very interested in both. The funding issue is fairly opaque. But I think most people expect that Geo-Jade can come up with the money, in part because management seem to be betting on it. The 2-weekish SAFE approval process should have begun at the end of May, when NDRC and MOFCOM approvals were received.

[braincloud]

How do you know what is "typical"? What possible reason could they have to delay this paltry deal? You must have some knowledge that you're not sharing either that or it's pure speculation on your part . My suggestion is you either sell, sell short or shut up. There's no point trying to fuel a fire with hot air once the embers have turned cold. SAFE is a black hole in a sea

[ChupacabraBueno]

BC, "In practice, SAFE approval is usually obtained within two weeks." according to "Outbound Chinese equity investments - understanding the regulatory approval process" on the nortonrosefullbright.com website (link below). I've already shared that knowledge (if that's what it is) in a previous post. I'm not speculating other than to point out that the SAFE approval

[braincloud]

Thanks for the clarity. I will attempt to find out if the other layers of approvals have been obtained and it's just SAFE that we are waiting for. The word I had was that it was just SAFE, but they could have been generalizing. This whole deal doesn't have the transparency that we'd all like and hence the discount. The only thing that we have to go on is that insiders have bought the

[LordIskander]

Bloomberg has a fancy formula calculating the deal success probability: 80%  I like them odds.

[lefmike]

Too much conjecture going on here,. . .. Based on the timeframe I has reservation if thi sdeal is going ahead as planned. . Did the Chinese find problems?  I'm curious, what ever happened to those tax issues? . Did I miss something? .  When BNK went from the low 3's to 90 cents it was as a result of the tax issues primarily and all along we were told by IR ( same ones that are

[LordIskander]

We've got no proof of the collusion between the Albanian authorities, Bankers management, and Geo-Jade to crash the price in order to make the Chinese offer palatable. The complexity of this conspiracy is such that it litterally boggles the mind. Occam's Razor I say the simplest explanation is the best.  The tax audit was real enough considering Albania's budget problems.

[braincloud]

And the oil price had nothing to do with anything you've said?

[lefmike]

BC I'm just saying that we've heard next to nothing regarding that major issue of the audit, NOR the freezing of bank accounts SINCE the f-ing deal was made.  You have to admit that this company in our collective opinions was worth significantly more than the selling price announced. . I'm PI$$ed,  French sold the company, there was NEVER any indication that somehting was in

[braincloud]

Well then we differ on a few points. When the deal was struck, given the oil price environment, it was fair IMO. I asked a few analysts and they all pretty much agreed. That's why you didn't hear any squawking from any institution that the deal was unfair. I'm pretty sure that had the oil price been higher then the offer would have come in higher. As for the Albanian tax issue, what

[ANONYM0US]

Be careful what you listen to with this guy. Nobody talks to analysts and if he did, who were they? And what are his sources. He blows air and says nothing confirmable... Just sayin'

[lefmike]

BC I@m just saying that we@ve heard next to nothing regarding that major issue of the audit, NOR the freezing of bank accounts SINCE the f-ing deal was made. @You have to admit that this company in our collective opinions was worth significantly more than the selling price announced. . I@m PI$$ed, @French sold the company, there was NEVER any indication that somehting was in the pipes and all of

[ANONYM0US]

Great post ChupacabraBueno. You sure put Brainfart in his place. Congrats and good job.

[ANONYM0US]

BRAINFART you are a f ucking'' joke. Don't pretend to know what you are talking about. What kind of STUPID logic are you presenting to this board??? What an ignorant resolution to fix a problem...you said "If you need more language just call The BNK IR person. " Are you f ucking" moron? Why would anyone call the fox that is guarding the chickens???

[ANONYM0US]

ANONYM0US, what a brilliant reply to Brainfart's illogical logic. The guy knows fuc.k all but thinks he knows everything. I've met many people like brainfart in my life and there is a name for them....A$$HOLES

[ImFineThanks]

WTF?!? HHaha... You soft headed chap - you didn't sign out of "anonymous" and into sign into your other fake account to congratulate YOURSELF for that moronic rant. All of that because you're insecure about how dumb he makes you feel. Just deal with it and move on, you're dumb. It's not the end of the world.

[braincloud]

What in gods name are talking about? You are real quick to criticize but never offer up any useful information. The situation is pretty simple . It's either SAFE approves the transfer of yuan to Canadian $ or it doesn't . Either Geo has raised to money or it hasn't . I say that the evidence supports that Geo has raised the funds and SAFE approves the transactions. If you think

[ImFineThanks]

I can't tell if you are replying to me or "ANONYM0US" but if it was me, I was calling him out for  doing something ridiculous.

[braincloud]

Sorry, I have Anonymous on ignore. Thought you were responding to me. No worries.

[ImFineThanks]

Good idea. I think I'll join you and ignore him too.

[tannin]

Geojade have the cheapest, longest 'call' on a petro stock ever ever.......BNK BoD should call the game OVER, take the miserable break fee, and move on.

[ChupacabraBueno]

tannin, taking the "break fee" sounds like a good idea. But are you sure the break fee is still in play if the original deal reaches the deadline? Some posts here have suggested that the fee dies with the deal when it expires. Of course, they could by mutual agreement reinstate the fee and all aspects of the deal with new expiration dates - maybe even a better deal for BNK shareholders -