Presume the bod could still buy back shares supporting the price? Or are they not allowed to trade until after the deal closes? However this feels better and better With the oil price so low and most of the bad news out the way- I would not be surprised if a few big investors were not hoovering up all the shares as pi's throw in the towel Patience value will win out!! Kh could be really looking forward to 2016
It says in the RNS only a small portion in shares and peanuts out of the cash pile for the returns.
-- Aggregate gross consideration of up to $28 million comprising $8.5 million cash, $10 million carry, $5 million share-based element and $4.5 million in contingent payments.
As at 31 October 2015, the Group had a cash balance of circa $120 million and no debt with a further $40 million receivable in staged cash proceeds ($15 million on completion of drilling/end September 2016 and $25 million on Etinde FID).
how are blvn going to pay for the new deal? if its shares? presume they either buyback shares on the market ( great) or print some more shares ( like QE) a disaster for share holders? or offer to current shareholders shares at a discount still bad news as it weakens shareholder value?? probably the reason why the shares have hardly moved!!
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