Agree with you, I think the traders will return perhaps not to Pre-kickin l'gonads RNS but any rise will be appreciated. If they are serious or have been frightened in to dialogue with ASOG because of uncertainty that they might not get enough votes, perhaps we might just have a chance of getting back above 7p. Still little comfort for LTH but if this can be sorted out there might be some long term recovery possible?
The Company's 2015 Annual General Meeting will be held at the offices of White & Case LLP, 5 Old Broad Street, London, EC2N 1DW on Thursday 25 June 2015 at 11.00 am. Copies of the Annual Report and Accounts are available to view on the Company's website at www.afren.com.
Dilution will leave existing shareholders with 14% of the company provided you fully subscribe, you will then swap 10 of the "new" shares back into 1 ordinary share to reduce the shares in issue. (Ldlv the 40% discount number is for illustration purposes only and does not change the overall percentage owned by ex sh's, just how much you will have to pay for them but is not necessarily the discount they will be offered at) This in my opinion will now drag on as you shareholders will not receive the prospectus until early June and the egm won't be held until the end of June, two more months to endure, one month until you even know what you are voting on and this could be in "afren" time (imminently?). If you vote no the sale of the company will have to be initiated by year end and completed by year end 2016, and the bondholders will appoint the majority of the board to initiate the sale of the business! Is this a threat? I don't know.
- all the good news yet to come? Only skimmed through the accounts but it looks to me as they have drawn a line in the sand, getting all the bad news out showing huge write offs and a massive loss. With funding sorted there will be loads of good news released after the dfe has taken place. The question now is do we get a better deal, which the SHs can accept, allowing for the SP to make a gradual partial recovery. What the accounts say to me is, Afren is a going concern with future potential but we the BoD have mismanaged the company on a gargantuan scale. Hope the CEO makes significant changes and gets some confidence back into this share. Will be interesting to how the markets react.
well they did their best to make it look like a dirty dog, but hey, $163 in Normalised profits !!!!!! That's a very very good return. Pity they went mad spending on capex, and downgraded the assets, so show an abnormal year loss. The good news is the smart money will see through this ……Up tomorrow. !!!!! happy here.
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