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I think today will be the day we climb, mms price action seems to be squeezing a few out early.
but down day for SP me thinks. and TLW rise above PMO SP.
but down day for SP me thinks. and TLW rise above PMO SP.
Oil climbing nicely again
Bought. Need to get my losses on PMO back from PMO. Ready for the ride. ATB
Schroders haven't purchased 5% they were just bellow 5% before and are just over today, Surprised the positive news the other day has not had more of an effect, I guess a sign of the times.......
Rookie, I hope by the time all those things are out of the way we are at least in the 30/40 so C would have to offer a premium on that price.
Yes the level of support and how it is structured might surprise a few. Also Schroeder purchasing over 5% of shares so far can be a sign of what is to come. It’ll be interesting to see if they are still accumulating.
Should see a good few days :)
Looks like really good news.
Support for PMO looks strong.
Sounds like chysaor are waiting for the debt restructuring to be arranged, dilution out the way, and they are going to swoop in for the buy imo.
Agree with your view and take on it !! Roll on 8am
I read the article now for 5 times -
https://www.marketscreener.com/quote/stock/PREMIER-OIL-PLC-4004314/news/Premier-Oil-receives-indicative-support-of-325-million-for-capital-increase-source-31315742/
It says PMO received support in EXCESS of targeted £325M! Now read another line there -
"
Premier said last month it was seeking $530 million in fresh equity, of which existing creditors said they would underwrite $205 million in a potential debt-for-equity swap, should Premier find $325 million in fresh equity elsewhere.
"
so $205M will be written off so MCAP would increase by $205M after the debt restructuring?
Now about the $325M credit, if it is thrown by Chrysaor alone then is it a takeover deal put by C to PMO? Obviously existing SHs would not approve if it is just for $325M but the article says in excess of $325M so we don't know how much in excess again?
It will be interesting to hear for how much Chrysaor want to offer to PMO!
But with the increase in stake today by Schroders, I think it is going to end well.
I will dip in tomorrow first thing on the bell.