As bad as the news is about shares being issued at 11 pence, it is worse that they are struggling to fill the order book. Once we suck up the bad news on the share price, we will have to look forward and move on, and that means hoping the order book is filled and that we end up with a hundred million euro in the bank and a plan to move forward. Whatever way you look at it, it would be a big achievement for a company in Providences's position to raise that kind of money
The funding agreement is the one hundred million euro mentioned in the Sunday Business Post. I think the Lansdowne statement confirms that Providence are engaged in a funding deal for barryroe, but just in case it does not happen it is as well to have the share issue in place. I suppose that also shows that they feel that even if the funding deal does not happen in the next couple of weeks, that is is worthwhile staying involved in Barryroe, as the funding deal will be done at some stage. At least we know that there is going to be some news either way in the next couple of weeks.
It is hard to see Providence doing a share issue to raise over one hundred million euro. The funding deal surely is a farmout of some sort, and most likely of Barryroe. Perhaps our old friends Sequa
I think the situation is that a funding deal is being worked on for Barryroe, and if this does not work out, then Lansdowne will have to do a rights issue. They are putting that in place now, as there will not be time to do so, if the funding deal falls through. Needless to say the funding deal must be for Barryroe, and hopefully that funding deal has something to do with the one hundred million euro mentioned yesterday by the Sunday Business Post. We will find out soon enough, but everyone in both Providence and lansdowne will be hoping that the funding deal can be put in place, otherwise it will be a share issue for both companies.
There is a possible new funding deal for Lansdowne, but in the meanwhile they are preparing to issue more shares as a backup plan in case the other funding deal does not happen [link]
I really hope so spuddy We will know more next week but i agree with all your posts As Derek Trotter would say You know it makes sense
Surely tweni million would be plenty to pay our debts and to keep going while we wait for a farmout
I must be a farmout as we do not need to raise over one hundred million in the near term
I would nearly pay the premium to read the article, but I am sure we will hear more about it tomorrow. As they say today's newspaper is tomorrow's fish and chip wrapping. [link]
100 hundred million. That means massive dilution or a stake in one of the oil fields. Hopefully the latter.