The Enquest/Kraken financing with a syndicate of banks from Malaysia, Abu Dhabi, China, Singapore - 7 banks in total has got to have taken some getting together and is presumably what Xcite must be looking for. The article (posted on ii a few days ago) said the finance is intended to replace an existing bridging loan signed on March 31 2014. I'm clearly missing some info. I thought their FDP was given the ok at the end of 13. So what finance was in place then if it was a bridging loan in March 14? Or if I got that wrong and the FDP was approved later - does it suggest it was approved on a bridging loan? I ran out of energy looking into it last night but the finance changes look murky to me.
Have passed almost since the last rns , must be time for a snippet of imformation , anything will do , clearly the warrants are a non event so at least no dilution but when sde things gonna happen its been a long slog alright !
The intriguing and somewhat disappointing thing is that Socius or whoever they represent did not see fit to try to acquire that joblot of warrants, in view of the substantial 6% stake they currently have in XEL. Even whichever major may or may not join with XEL, it was a 5% stake in the company at a price that has, one prays, to be substantially below what XEL are trying to entice jv partners in at. Yet even now after the majority of the warrants have expired, there's been no positive movement in the sp. So any deal XEL either are trying to, or have succeeded in stringing together, is completely under the radar, or there is as probably most pi's would feel absolutely no external interest or faith in XEL and it's management to survive to enact production at Bentley.
Yes, 6m expire next month, the remaining 1m are part of the Pareto deal and expire later. They are not of significance, probably someone's bonus for setting the deal up, to be sardonic about the whole thing and the integrity of .ankers. Substitute your preferred letter on the spot.
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