Think its very interesting that the institutions have over subscribed for the shares. Wouldn't have thought they would throw good money after bad. Also have never heard him use weeks or a month as a timeline before. So think this must be the deadline for deal
Salaries etc to keep the place running are closer to 2 mil not 7. It is not very expensive to sit on the Barryroe prospect until someone pays for it.
Think its cover against Sequa not raising required funds. If thats the case then its the prudent thing for them to do as a company. Not great for small shareholders though if it happens. Hopefully sequa deal goes through and issue doesn't happen
As far as I can make out this placing is useless other than to cover the loan facility. It is not enough to fund spanish point drilling etc. So the only thing it does is provide cover for the loan. The reason the placing is a month away I would expect is that it is a few days after Sequa have to put up or walk away. If they walk away then they have cover for the loan and can survive until another bid comes in or Sequa get the cash in which case they can cancel the shares as will have cash from the deal.
Afren is busy today. Shows how quickly things can turn around for a share. Or go bad too I suppose!
I would imagine there are but that we won't find out till a deal is confirmed or not. As they said the commercial terms of the agreement were to be kept confidential.
Accounts figures always have to be presented in the companies currency which is euro. Some posters than assume the money has been converted. I believe a good portion has not even been drawn down. It is a facility not a loan.
You don't really have a point. your just angry about the share price.