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Manyana, you sound like he has the house riding on this. He earns €100k a year gross so 2017 to 2019 covers it. He'll earn around €50k for the period since the share issue to whenever in February and he'll mitigate dilution against his initial shareholding.
I'm sure he didn't expect it to drop from 12p when he invested but after burning money on wildcats, legal wrangles and finding two of the worst investment partners going, he can only blame himself and his CEO. If I had overseen that, I'd want to right that situation before I go off setting up new ventures! Only time will tell.
Providence may be able to pass the hat around to raise a few million but it hasn't a snowball's chance in hell of raising the sort of funds needed to bring Barryroe to production. For that it needs a partner with deep pockets.
Do you think he bought them just for the hell of it? And if he bought 1m at 12p do you think he expected them to go to 3p? Likewise when he bought at 5.1p did he think then they would go to 3p? Will you people ever stop crying into your tea and get real. Furthermore, if they are negotiating a deal they are prohibited from buying shares.
And if you want to see what he earned why don't you check out the annual return or are you not capable of reading them?
He has bought about £160k worth of shares. The second tranche probably to prevent dilution as much as anything else. How much does he earn a year? BOD will always be asked/expected/pressured into buying shares in an issue. Of course he is going to do it. He is on a good number. You are reading way too much into that!
To clarify, which is of interest, that Pat Plunkett as a director bought 750,000 shares at a price of 5.1p in Providence on 18th September this year after the kerfuffle with APEC about the $10m.
But Pat had already bought 1m shares at a price of 12p in his first week as Chairman of Providence on October 6th 2016, the week he became Chairman but obviously he bought these before he became Chairman so they do not register on the directors' dealings.
https://www.irishtimes.com/business/energy-and-resources/providence-s-new-chairman-buys-120-000-of-shares-1.2819706
So Pat is the proud holder of 1.75m shares in Providence. I am sure he did not do this with his eyes closed and as it was done after the September "backstop" and I am sure he did not do it as an act of charity.
So, if it is good enough for Pat who obviously knows a lot more than we do then it is certainly good enough for me. Hence, my return visits to the share market.
They thought they could piggyback on the Tullow experience in Africa but obviously thought better of it.
Tullow has not covered itself in glory in Africa with its issues with the tax demands on it in both Kenya and Uganda where the government's suddenly demand huge tax on the transfer of assets.
Not only that but the oil Tullow found recently is pretty hard stuff to deal with having pollutants in it and it being "heavy" as distinct from Barryroe which is "light and sweet" the best kind although Barryroe needs heating.
Now, if T5 can raise $45m surely they can raise that and more to develop Barryroe. After all, Pat Plunkett is, I believe, the biggest non-institutional investor in Barryroe so why not Barryroe instead of Africa?