TXP16 May 2024 22:12
For the more sophisticated investor. :)
TXP making an acquisition, payment in shares..
Currently 33p,
MC £78.46m, with approximately 234.21m shares in issue. Over the last year, Touchstone Exploration share price has been traded in a range of 61.75, hitting a high of 94.50, and a low of 32.75.
Payment = 58,341,102 shares, after which company will have ~ 295m shares in issue
And production of between approximately 11,700 and 12,400 boe/d
I guess the MC can be estimated as 295m x 33p, about 98m
Initially sounds cheap, any thoughts ?
https://www.lse.co.uk/rns/TXP/recommended-all-share-offer-wg8mjwcmlos2e36.html