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dasbig can't see it having much of an impact on the sp as its not been factored in due to the ii selling, well I hope not anyway
DRichi yes its been a long hard slog to get down to where we are today :) and I'm sure nobody knows more than PL on that score.
Maybe the IFC were waiting for Schroders to finish their current reduction in holding PPC stock. It seems we are in a tug of war between trying to make a success of what was for long term holders a car crash on many fronts and ii's cashing in for what ever reason, be it dissatisfaction, reducing oil exposure or just the aim market.
They won't be long shifting them if profit is being made. Impacts of failure on the next well is my worry.
My worry too can go on 4 months selling down and tends hold share price down.also puts others off investing or sell out
Aparky- Those RNS's take me back! If only PPC still had the same amount of shares in issue as back then.
Worrying thing; what are the intentions of the IFC? Were the 5.5M and 2M sells all the sells for now? They still hold 98M shares. If they are closing their position here, that's a long way to go yet.
Yeah, was just reminiscing about the good old days.
Just another oiler that has destroyed shareholders
Took a punt here yesterday
Booth's?
bobo
It was booth's but as I was only questioned on my IFC comment thats all I responded to.
That was circa the time PL got involved in ppc and Australia was dropped a year or so later.
How about the duster in Australia. If I recall the sp was over £1 before that
Thanks NicetoMichu been here nearly as long as PL some have been here longer. I remember the sp being around 17-18p when the rns came out regarding the IMF and that was the catalyst for the sp to take off. We all know what as happened after that, but hey ho still here still waiting for what hopefully should be a good result.
Looking positive again, but aso looks like the long term ii's are out to hinder any sp movement be it the traff deal or other reasons, we will never know.
Fair play AParky. Great historical knowledge here and a smart guy too imho..
Results of Placing
Thu, 6th Feb 2014 15:03
RNS Number : 5030Z
President Energy PLC
06 February 2014
President is pleased to announce that a total of 87,628,500 new ordinary shares (the "Placing Shares") have been placed in the Placing, with new and existing institutional investors at a price of 35 pence per Placing Share (the "Issue Price"), raising gross proceeds of US$50 million (£30.7 million). When issued, the Placing Shares will represent approximately 28.6% of the issued ordinary share capital of the Company prior to the Placing. RBC Capital Markets (a trading name of RBC Europe Limited) ("RBC Capital Markets") and Canaccord Genuity Limited ("Canaccord Genuity") (together the "Joint Bookrunners") acted as joint bookrunners to the Company in respect of the Placing.
The participation in the Placing by the International Finance Corporation and Schroders Investment Management Limited represent related party transactions under the AIM Rules. Accordingly, the independent Directors, consider, having also consulted with RBC in its capacity as the Company's nominated adviser, that the terms of such parties' participation in the Placing are fair and reasonable insofar as independent Shareholders are concerned.
19-Oct-20 16:07:06 1.50 5,000,000 Sell* 1.45 1.60 75.00k
most likely their trade from yesterday
27th September 2013
PRESIDENT ENERGY PLC
("President Energy" or "the Company")
Proposed Equity Investment by International Finance Corporation (World Bank Group)
President Energy is pleased to announce that it has reached agreement in principle with the International Finance Corporation (IFC), the private sector arm of the World Bank Group, for a proposed investment of up to £12.5 million (approximately US$20 million), comprising:
· a subscription of 37.5 million new ordinary shares at 25 pence per share to raise £9.375 million (approximately US$15 million) (the "Placement") which is anticipated to close by the end of November
· a further subscription which has been agreed in principle to raise £3.125 million (approximately US$5 million) (at a price per share to be agreed at the time of the subscription) ("Additional Placement") which is available until the end of 2014
Apologies not 18p, long time ago
Amazed how quick the President website was updated !
Large stakeholders make up over 65% of the company, so I don't think it would make a massive difference if someone sells 5%. Remember we also have the new investor buying on a quarterly basis.
Answer :-
They came un around the 18p mark back in the day and carried on taking up the offers as the price went up, even took up the 35p placing when PL first started the devastation of the sp when it just managed to threaten 50p
I seem to recall over the last couple of years that World Bank were no longer funding O&G projects and working towards sustainable. I doubt it relates to Trafigura, i'd imagine they have a lot going on with Covid and might be focusing on to some key investments.
If nothing else, from a governance perspective, President will probably keep on with the high standards.
Come on AParky let’s have a discussion. We’re do you get that IFC are making a big loss? Your not going to be able to answer this because you don’t really know the answer.
Looks like the IFC have joined the reduced holdings club, another ii that has either got better things to do or wasn't happy with the traf stitch up. If they sell up it will be a major blow for the company more so than schroders
They are selling at a big big loss