I took a punt today at support, in my view the stock will follow its previous pattern into wave 5 and test .5p
The last 4 waves have produced a short period of consolodation after a correction and then spiked again, there is more than a chance of another test of .24p of course but in my view as wave 5 is the strongest then the spike will be faster and greater than the last two day 66% spike in price.
all down to buys and sells and news of course but i like the odd chart punt, they dont always come off but interesting to try and predict all the same.
Evergreen Oil plc Funding Facility and Trading Update
15 February 2012
Evergreen Oil Plc ("Evergreen" or the "Company")
£225,000 Funding Facility
Change of Registered Office
Further to the announcement on 23 December 2011 concerning the funding facility, Evergreen Oil Plc, the producer of biodiesel from waste cooking oil, announces that the Company has received £225,000 in the form of convertible loans.
The Company has received £200,000 through a convertible loan facility provided by a member of CEO Roberto Avondo's family. Under the facility, the funds will be used solely for the purchase of feedstock and related expenses. The loan is repayable on or before 31 December 2012 and carries an interest rate of 15% per annum. The loan is convertible at the lender's option into ordinary shares of 1p each in the Company ("Ordinary Shares") at a conversion price of £0.0788. The Company has received a further £25,000 through a convertible loan facility provided by the Company's Chairman, David Cowham. The loan is repayable on or before 31 December 2012 and carries an interest rate of 15% per annum. This loan is also convertible into Ordinary Shares at a price of £0.0788.
Both loans are secured by a fixed and floating charge on the property and assets of Evergreen Oil (High Laver) Limited, the Company's wholly-owned subsidiary.
As the convertible loans constitute a related party transaction, the Board (excluding Roberto Avondo and David Cowham), having consulted with the Company's financial adviser, consider the terms of the loan are fair and reasonable insofar as shareholders are concerned.
Change of Registered Office
The Company's registered office address has been changed to 16 Union Road, Cambridge CB2 1HE.
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.