History Lesson: 2016 Rights issue at 13.25 pence per share (in todays prices)13 Mar 2023 12:16
STACE did you know that you can read all past RNS regulatory news reports FOC on investegate.co.uk website? I read it for entertainment value and a sense of nostalgia for those promises of yore. (The good old days that we are still actually awaiting). The only way companies like this can keep going is by sucking in naive new investors who buy into the "growth2 story. I do hope things will change. With the benefit of hindsight I would recommend someone should only buy here once, and then sell half on spikes, only subsequently buying more shares from profits derived from that initial investment. It MAY be possible to make a long term profit, by trading half. Remember this share is a switch back rollercoaster. but one whereso far the overll net dirction fromthe ups and downs, is most definitely DOWN, since the company was formed.
I am just sharing this RNS from 2106 for some historical insight - I actually passed on this rights issue .
Remember that although the rights issue was at 1.325 pence per share there ws a 1 :10 consolidation subsequently
Tuesday 24 May, 2016
Dekeloil PLC
£11.1 million Placing and Acquisition
RNS Number : 0644Z
Dekeloil Public Limited
24 May 2016
DekelOil Public Limited
Acquisition of approximately c. 30.5% stake in CS DekelOil Siva Limited,
Proposed Placing of 834,736,160 Ordinary Shares,
at 1.325 pence per share to raise £11.1 million,
Proposed Share Consolidation,
Directors' Dealing and Notice of General Meeting
Highlights:
· Acquisition of approximately 30.5% stake in CS DekelOil Siva Limited, the Company's majority owned joint venture in the producing palm oil project at Ayenouan
· Transaction increases DekelOil's interest in Ayenouan to 81.5% and is earnings enhancing for Shareholders
· By securing a greater proportion of Ayenouan's growing revenues and cash flows, the acquisition has the potential to accelerate the roll out of the Company's strategy to build a leading West African palm oil producer
· Acquisition to be funded via a proposed capital raise of £10.8 million by way of placing of New Ordinary Shares to institutional and other investors at a premium of 1.9% to the closing share price on 23 May 2016
· Proposed 10 for 1 Share Consolidation
DekelOil Public Limited, operator and 51% owner of the vertically integrated Ayenouan palm oil project in Côte d'Ivoire (the "Project"), is pleased to announce, subject to, inter alia, Shareholder approval, a fundraise of £10.8 million before expenses through a proposed placing with institutional and other investors of 812,094,680 ordinary shares of €0.00003367 each at a price of 1.325 pence per share, representing a premium of 1.9 per cent. to the closing share price on 23 May 2016 (being the latest practicable date prior to the announcement of the Placing). Net proceeds of £10.1 million are intended to be used to fund the proposed acquisition of approximately 30.5 per cent. of the entire issued share capital of CS Dekel
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