Friday, March 14, 2014

Service Point Solutions – latest report furnished by SPS to Spain’s equivalent of the US SEC

This is the link to the Spanish-language version of the report. (This is the “official” report). Here’s that link:

When you click on the next link, doing so will take you to a “Google-Translate” translation of this latest document. (Please note - it will ask you to “download”, and what you will be downloading, if you click the link, is a “web-archive” document):

As I’ve previously stated whenever I’ve used Google-Translate to translate SPS reports from Spanish to English, translations are far from perfect (and, they read kind of weird, to the point where it is easy – very easy - to get a headache when you read them!)

Blog Publisher’s comments:

This document contains some very interesting information.  If you are following developments at SPS, you’ll definitely want to read this document.  Interesting information, such as….

"As mentioned in paragraph 1.1 above, the Company is actively working with several potential investors who have submitted bids to the financial institutions. The negotiation has slowed as a result of the beginning of a parallel process of sale subsidiaries taken over by the banks (in the UK, Norway and Sweden), led by the GPP administrator Capital Plc, Ernst & Young LLP. I also understand that potential sales process and the realization of collateral by banks will have to be under analysis by the court in Spain."

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