Think rights issue very unlikely. Think it is just a rumor to drop share price. If a rights issue were to occur it would be an admission that Barryroe Farm out with this Interested party had failed. Don't think Providence would have issued RNS announcing commercial agreement to suddenly thereafter announce rights issue. Also an RNS would have to be issued prior to any rights issue stating Barryroe deal off. So think Rights issue not going to happen. We can expect some money from Transocean case. If Barryroe Farm out Falls through it will be put on hold. No major shareholder is going to want a rights issue here.
Does anyone know the exact cash position of this company. How much cash does Providence have or are we already in the red and spending from the credit facility provided by Melody. For Transocean case any ideas how much legal costs and Spread Costs might add up to if they were reembursed
There seems to be an organized effort to collapse this share price. The management of this company have not helped with there dreadful performance and high flying salaries. It does seem though that Articles like todays in the Daily Mail are a little strange. Providence is a Tiny company but it seems to occupy a large portion of the Press´s time. Why is this. Who is behind this. Think the management of Providence need to make some statements fast and explain what is going on and what the plans are. There is too much messing going on and we the long term shareholders are suffering because of this
Another great start !!!!!. I really think that the BOD need to make some statements regarding events. It is not normal that nobody from the company reassures us. Not asking for details nut looking for the Pilot to say he is in command and actually flying the plane. We were told last year that blogger boards were to be ignored as they do not tell the true picture. Well we were two pounds at that stage and look where we are now. This is disgraceful. It may bounce, we may get some good news but I believe we are not being treated fairly. We all have legitimate questions regarding funding issues accentuated by unnecessary outgoings (primarily over generous salaries). This has nothing to do with Barryroe. Our BOD should state that they have a plan and that we are ok for funding. It is that simple. I looked at all the times last year that Providence mentioned Barryroe. To say that these were not misleading is an understatement
Hello there JB63. On the face of things it appears that all of what you have said is true. However if it were true what does that say about the Big Institutional Investors. What does it say about Rothschilds. What does it say about The BOD. What does it say about ACC. What does it say about TOR. If it were all true there are alot of very stupid people, alot of very non-ethical behavior, alot of negligent behavior, a lot of very fraudulent behavior amongs other things. There must be something going on behind the scenes that has the big Institutional players satisfied. If we find out that we have been sold a pig in a poke I imagine that the Transocean case might not be the only legal case that Providence faces
Morning JR Good News with Landsdowne. Did you get a chance to look at Transocean Link that was sent this morning. Court Judgement a little complex and still no idea really about how much money is being discussed. Providence Share Price a joke. What is going on. No sign of any Bonds (if Sequa is the partner). June payback date for loan approaching. Think TOR and his Board should clarify how it plans to pay for SP Drill. What a mess
Morning JR. Quiet today. Still hopeful of some good news. Nothing on Euronext. We are all assuming that it is Sequa. Would be a surprise if it were another party. Also we all assume that funds will be raised in Europe. This can also be done in USA or in ASIA