Hi Lerrab, how do you get an entitlement share to be one eighth of your original holding when its one share for every 4.4 held? Why then do you get the option to buy 10 times your total holding at 34? I thought the placing was oversubscribed. Sorry have only had time for a cursory glance through the company placing document and letter from broker.
Judging by how the market has behaved with this share one would think something would happen almost immediately following completion of the placement, otherwise the price will drop below placement price quite rapidly allowing the likes of us to buy more shares at below placement price, dont think this would please many people. Unless of course the placees are in for the mega long term.............
Cheers spuddy. Share your sentiments re farm out, nothing has changed other than progress. We know the company doesn't have loads of cash so the funding discussions could just be a proactive move in advance of the melody facility closing in June, possibly to keep the company operational should the farm out not close by then. Think I would prefer another short term loan facility as opposed to a rights issue or a senior debt issue, time will tell the course of action I guess
Can anyone tell me where the conflicting RNS's are that atlanticshore is referring to? I have read the RNS's and can't see it but could be misreading them, cheers
I dont see where on the page it tells us the bond has been issued successfully in fact the page is identical to when i last looked at it at the beginning of February
Agree Godot, i also recall the RNS's being caveated with something like "there can be no certainty that a deal will be finalised". Re "complicated", agree again, putting together a deal like this is not like going into a sweetie shop to buy a chocolate bar
@ a share price of 57p it would seem he owed them around the £2m mark i suppose. I suppose also that ACC must value them either at or above the current share price if they have accepted them and dont sell them
