Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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One thing for sure, Monday will be interesting, have a good weekend (Guffaw)
The company does make money remember, a majority on aim don’t
Whilst it’s a vote of confidence from the debt holders to convert and effectively slash our debt, we as shareholders get further diluted.
This is a mixture of positive and disappointing news depending on which part of the spectrum you sit.
Hopefully with the increase in production we will hit higher highs by year end.
I’m done with this share and looking forward to getting out
The. Company is valued at under £4 million, something had to happen and we all know the debt burden weighed heavy on us with that almost gone the extra money they will achieve and no debts to worry about for 10 years it has to be better
So what would you like for your axact prediction?
If it was good news they wouldn’t haven’t released it last thing on a Friday
I don’t anyone can disagree this is best way forward
Did have historically, made a decent chunk after the last refinance. Should have made a lot more but got shafted by the warrant shenanigans. Been on watch list ever since as a dodgy company... I was thrown out the telegram group a long time ago for "de ramping" it...
Been waiting for this to happen - and now it has.... Check ADVFN boards - ive predicted this exact event.
So Abbza, now the equity can hold you back - and the rest of the debt!
GREGPECK,
You seems very distressed, 5 posts in the last 15 min .
Do you have shares in echo ?
Tombi. If you think this is good news for SHARE HOLDERS, you really should read the RNS a few more times. It might be good for debt holders - but unless thats you - its bloody awful news. You are being diluted into irrelevance.
Fact, its the debt that has been holding us back, with this we have less debt but more shares but the debt we are left with is pushed back to 2032, its not rocket science.
To clear most of the debt , is quite impressive and 10 years to do any outstanding,,,
very goodHighlights
• Proposed conversion of an aggregate of €15.0 million of existing debt principal, together with accrued interest thereon, excluding the LO Interest Conversion shares, into new Ordinary Shares at a price of 0.45p representing a 75.1% premium to the closing share price on 11 August 2022.
• Proposed reduction of remaining Note coupon from 8% to 2% with suspension of further cash interest payments for two years. Remaining Note maturity extended to 2032 timing indeed'' and a big fat move north for Monday assured''
FKN good news to end the week.. and should get tongues wagging
about expectation going forward with most of our £25m debt converted into shares
LO , are not usually so amicable , so do a deal at a premium of 75% they must like what there hearing from the company , let’s see how the raise goes first
Ill probably get banned here like I was from COPL for telling the truth! And I made the same warnings there. LISTEN to the PECKER!
They wont increase production significantly, been saying they will do that for years.. This just gets them another 2 years of decent lifestyle. This company is totally uninvestible. I suggest you take a look at GENL if you want to see how an oil company should be run.
250 million - yes a quarter of a billion pounds of FCF per year.
net 150m USD cash positive
31,000 bopd production
pays a dividend
Hows that only worth 90 x this mkt cap lol.
Thats an oiler that lets you sleep at night and there will be a massive return..
This is just a joke. Its not a company, its a way to just take money from shareholders and give it to execs.
I imagine the timing is to go with the expected production increases over the next few months , to absorb the extra shares
The share has no movement, so it does seem the obvious way of clearing debt , any debt left has 10 years before due , also no payments on interest for two years , so many positives , something drastic needed doing , gla
Is that correct LO converting the debt at 0.45p a share , a 75% premium to yesterday’s closing price if so ,bodes very well if they are willing to do that , they know the potential of this restructure in the future , more knowledgeable people might be able to explain more , I think we should get a bit more news probably today to go with it or Monday
What is a bookbuild?
Can someone translate the R.N.S into simple English please.
Gotta pay MH and JP somehow!
If they can pull it off then great, secures our future though no doubt many will complain of more dilution, heyho.