Jed re placing14 Feb 2019 12:19
As regards a placing, it's very unlikely that shares would be offered via a rights issue, if indeed there would be any investor appetite for this.
By the same token, for an institutional investor to come on board, they would want some comfort that it will be worth it in terms of future growth/profits. Bear in mind the last placing at 57p compared with current SP of 14 ie 25% of that.
On current levels of sales, there is no profit to be had and whilst money raised would presumably go towards infrastructure (hopefully) rather than into a black hole, we still need a sea change in the so called levels of demand from both big power and industrial customers.
Hopefully over the next month or so we will see a steady increase in gas uptake.