Good news in my opinion that Providence has raised c.$75m (about 250% of its current market cap!)
While that will clearly dilute PVR, it also gives that company plenty of cash - this means that whatever deal it manages to secure for Barryroe will be more attractive. PVR's back is no longer against the wall as it was a few months ago, and so it can hope for a much better/less rushed deal than a few months ago when it would've had to accept just about any offer because it was totally skint.
This will hopefully have a knock on effect for LOGP because we will clearly benefit from any better deal that PVR does for Barryroe.
This petition was stalled in parliament since 12th Aug 15; finally green lit on 12th feb 2016. The FCA have finally replied, saying its nothing to do with them as they only deal with market abuse & insider dealing, now is your chance to have your say.
If you hate seeing buys reported as sells etc!!!!!! Has already been sent to Martin Lewis, Daily Mail, Moneyweek & Watchdog.
My local MP supported this petition by writing to the petitions committee to help un-stall it. There’s 650 MP’s in Westminster, So have you written to your MP? 649 to go! If this petition doesn’t reach 10,000; then imo we might as well have not bothered as it will almost certainly be filed B1N; @ 10,000 the government should respond. ONLY 8 weeks to go !!!
So – If you haven’t yet signed or indeed have but haven’t passed it on to others, then now’s the time to do so.
I'm coming around to your point of view in the end. This share offering is only going to raise enough to pay off some debts and pay the directors salaries for another year or thereabouts. This has been a sh*t investment. The agm will be interesting if anybody bothers to turn up.
shares diluted by 216%, with the new shares, if sold, being sold at less than the current SP. lets assume they get flogged at 1p raising £1.9m. most of this money getting swallowed up straight away. leaving SH a clean sheet, but with 350m shares, and the company arguably worth less than the Mart Cap of £4m. lwta suggest £3.5m to be kind. with 350m shares. That's 1p a share. Unless you think this is worth less than £3.5m , say £1.75m, then is a H'penny a share. Good grief. Pity they didn't offload this during high oil days,
"The Deferred Shares will not be listed or traded on AIM and no share certificates will be issued in respect of the Deferred Shares, nor will CREST accounts of Shareholders be credited in respect of any entitlement to Deferred Shares."
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