Of course It is possible that funding could be pulled. However It is Very unlikely that a swaption or a forward currency swap was not put in place prior to Brexit. This is The normal Course of action when You Have currency risk over a volatile And uncertain time period. If they Have not done this they Are complete fools And Cenkos a complete joke if advice on this course of action not given by them. I suspect a swap or An option in place at -./66. I hope I am not wrong !!!
Hello Haribo. The funds Will be held in a custodian account pending the EGM. I am sure they Have all ready purchased a forward currency swap. Believe the rate is 12p/15.2 cents i.e 1.266. At the time of announcement the market rate was 1.300 so the only reason for taking a worse rate Would be a forward currency swap or An option for protection
Mamms would say did a Sterling Euro Swap at 1.2666 i.e The placement terms 12 p to 15.2 cents. The Market rate at the time of the announcement was 1.300. So obviously with comission For a forward swap came in at 1.2666. So We Would be protected from currency volatility
Sent an email to Providence this morning asking them if they have hedged with a forward Sterling Dollar or Sterling Euro Swap prior to this Brexit vote. I presume they have. Having worked myself in this it would be very strange and negligent if something was not arranged.
Think market is moving in our favor. PVR has screwed Its small shareholders no doubt. But We will Get nowhere complaining. My average is about 55 cents now. Believe this year We will Get good news on Barryroe as Well. Big IIs obviously seeing something We are not. My advice is to average down. I bought some today at 12.5 and Will be in for placement. Also in LOGP, amryt pharma. Hopefully a Deal on Barryroe Will allow me to Get out of LOGP and reinvest in Amryt and Immupharma
Phonner Don't believe We will hear anything on Barryroe for a while. September Maybe. It Would not look Well having handed out shares to the insiders accompanied By a Deal on Barryroe. Believe It is comming but a few months away. I also Have some shares in LOGP. So hoping for a Deal
I bought some shares today and Will also take up placement. Not happy with things but We are where We are. Believe a Deal on Barryroe is much closer Than People think. There is no way that 70m dollars was given to TOR and co to Pay Off debt and drill a Well out in the atlantic. LOGP also got 2m with no other asset apart from Barryroe. Who Would Have handed over 2m to LOGP to Pay Off Transocean without something on Barryroe in the offing. Cenkos Took all there fees in shares. Do You think Cenkos Would put circa 7m dollars on a roulette wheel drill in the Atlantic. Then We Have Melody and all the IIs. They cannot all be fools. My advice Would be to stop your dilution as far as possible. However You Have to weigh up the risks
Surely with LOGP about to come out of suspension on Wednesday morning Providence will have to make a statement Today, Tomorrow or Wednesday morning !!!!!
Out of share suspension on June 22. With Barryroe being the only real asset Lsndsdowne has Surely We will Have to hear something from Providence early next week !!!
So those of us who hold shares in Landsdowne Have been diluted again. LOGP Have only one asset i.e Barryroe 20%. It Would seem that LOGP Will look to hand over a portion of Barryroe for a free drill (Maybe 5%). That Would leave them with 15 % if drill successful. So what Would 15% be worth. Can imagine them selling to highest bidder. Providence fund raise may be on hold pending Brexit vote. Wonder How much We are Going to be shafted.