After Coro, who owns what?22 Oct 2017 21:14
Following a recent placing, Saffron currently has 185.9 million shares in issue, over half of which are already owned by Po. In return for the Italian assets, Saffron will issue 185.9 million shares to Sound Energy and a further 185.9 million shares to Po. Based on Po's existing shareholding in Saffron, once all the new shares have been issued to both firms, Po will own around 51% of the enlarged Coro Energy while Sound Energy would own one-third, leaving roughly 16% in other hands. Sound Energy is a giant compared to its two counterparts in the deal, carrying a market capitalisation of GBP548 million compared to Saffron, valued at just over GBP7 million, and Po which is valued at around GBP10.6 million at recent exchange rates. However none of Sound Energy's other assets (mostly in Morocco) are affected by the deal.
Mainly from The Morning Star. Does it help?