Just wondering when is the latest date that you can take up your rights issue shares?
I do not have access, but good to see that story today in the Times on a day that is dominated by the Bexit. Perhaps putting your money into basic resources stocks would be a good idea at this time.
I feel the same way to be honest Desperate. The company has never being in a better position than it is now (at the expense of the existing shareholders). As I have said before, someday this share will come good, the question is, who will be holding the shares when that happens.
I think I will take a little bit of the open offer, and then take the change that the price will go below the open offer price in a couple of weeks. I hope that it doesn't, but there is a good chance that small investors like myself will be able to pick up shares below the offer price.
Malcy's Blog latest take on Providence: Providence Resources Lazarus like in its nature, the rise from the Transocean debris was completed yesterday when the company raised $68.4m plus proceeds of the open offer at 12p a share, a discount of a modest 13%. Enough to pay the court for Transocean, discharge all the debt to Melody, pay for some working capital, drill a well on Druid next year and still be able to provide a solid background to farm-out Barryroe and Spanish Point. Yes, Barryroe is still waiting for farm-out although I am reliably informed that it really is now closer than ever before. The placing is quite an achievement in these markets although there is a definite air of confidence around that I hadnt smelt much recently, apparently existing holders as well as a blue chip list of new institutions are now on the register. With today’s announcement of another licence in the Porcupine Basin adding to the portfolio, PVR finds itself in a very strong position and having discharged its liabilities now works from a clean sheet of paper, worth a close eye on nowadays…
A interesting link where Tony gets to talk about the recent developments in the company. Click on the Podcast at 15. 15 to listen [link]
I think you are right on that Spuddy. Hopefully we will hear something in the next few months as regards Barryroe, but I will not be holding my breath on that one. Having said that, the fact that the company is now financially independent puts them in a much stronger position as regards doing a deal on Barryroe.
I tend to agree with you Spuddy. It would be great if there was something announced on Barryroe before the placing, at least that way we would be able to claw back some money. As I say, I do believe that it will work out in the end, but when that will happen is anyone's guess. I do not have any shares in Lansdowne, but I sincerely hope for their sakes that something happens soon on Barryroe.