Member Info for EAS10

Do redundancy costs come from fund raise. It seems a low figure on first look but they have done the calculations.

Enjoy the AGM to anyone attending, should be very interesting. "Tres bien ensemble" as Del Boy would say!

Good point Manyana re 2016 share issue where institutional investors were afforded the vast majority. Anyone under impression retail will get the same offering as institutions should read excerpt from 2016 offer doc below:

PVR...has agreed the terms of a conditional placing (the “Placing Offer”), subject to inter alia shareholder approval at an Extraordinary General Meeting, to raise approximately US$68.4 million (before expenses) through the issue of 399,670,956 ordinary shares of €0.10 (the “Placing Offer Shares”) to institutional and other investors
(“Placees”) at a price of £0.12 (equivalent to approximately US$0.171) per Placing Offer Share pursuant to the Placing Offer.
The Company is also proposing to separately make an offer to all Qualifying Shareholders (the “Open Offer”) to enable Qualifying Shareholders to have the opportunity to participate in the capital raising process at the same time and on equivalent terms as the Placees. It is proposed that the Open Offer will raise up to €4.84 million (before expenses) in addition and separate to the funds raised pursuant to the Placing Offer)
through the issue of up to 31,835,610 ordinary shares of €0.10 (the “Open Offer Shares”) to Qualifying Shareholders at a price of €0.152 (equivalent to approximately US$0.171) per Open Offer Share (the “Open Offer Issue Price”) on the following basis:
1 Open Offer Share at €0.152 per Open Offer Share for every 4.4 Ordinary Shares registered in the names of each Qualifying Shareholder at the Record Date.

The deadline extension is just a ruse to enable board to deflect questions about this debacle and buy another year. This is highlighted by many posters on ADVFN. Share issue is the most likely outcome pnce AGM and mth end deadline is over.

A cash flow for PVR to the day and Euro could be prepared in about an hour. Absolute bull**** to that you get it that wrong.

...from an Internet cafe near a beach somewhere that opens late on a Tuesday!

Surely they have to release something before 8.00? Not like PVR to miss a chance to issue one!

Really poor if they don't release a basic update having passed a deadline they imposed only a week ago.

Yeah. Hopefully it won't come to that! Interesting times ahead! GLA

Who are you addressing Longwait? Proven wrong about what?

I think you are right that other companies will bide their time but I think all that you mention re office and salaries etc was apparent when APEC signed up.

I think after Waterford, none of the Goulandris family will be looking to pitch in this time.

You make an good point regarding underwriting. Hadn't thought it could get that bad but you may well be proved right.

You would imagine that no legal action is required but who knows what they signed up to at the time. The wording looks ominous but vague as usual.

In a way it's a small positive that cash flow will force their hand soon. Otherwise I think PVR would be happy to morph into a RNS machine with a sideline in oil exploration. The number must be a record in Irish corporate history?

I think most posters had predicted this outcome. Another RNS. What's disappointing is that there is still no meaningful information being provided.

I think the money will ultimately come. It's just the manner in which some companies do business.

I assume they are starting preparations for a share placing in the background. Given how wedded TOR is to this deal, I would be surprised that you get more shorter extensions and more fudge next week. New assurances etc..

They'll have to appoint a dedicated RNS Manager soon. It will be farcical stuff altogether if the ship arrives and heads back due to funds not arriving.

Manyana - by your logic then Providence currently funded for a matter of weeks and with no income is more credit worthy than Tullow a FTSE 250 company. Strange logic.

People keep saying they won't get a loan because if they could they would at last say we have put a credit line or facility in place pending receipt of money. It's a share placement rather than a loan if the money doesn't go through.

Maynana

You are asking who lent Tullow money in your post. Tullow produce around 90k barrels per day and have assets in Uganda, Kenya and Guyana to be developed or sold. You are not comparing like with like there. No one is going to lend PVR money except at pay day rates.

Mayana

Yes or no - will a bank lend PVR 30M?

You are the one saying people are "talking through their rear ends"!! See if you can research your answer on net!

PS - great post. 100% agree.

Mayana - simple questions in your opinion

Will a bank lend 30mln to PVR?
If so, give an example of a bank that would?

You seem to be comparing Exon Mobil borrowing power with PVR there at the end of your post!

Appreciate the roll call of investors. It still doesn't mean a bank's credit committee would sign off on a loan to PVR.

Anovas, they don't need to attend the AGM. It's a fairly common sense statment. There isnt a bank in the world that would lend PVR money currently.

Might we revisit 2.00?

You think it's peaked for now Akhtar? Talk of funds reducing long oil positions. I've started reducing my stake.

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