RE: Europe is better off safe than sorry on natural gas6 Feb 2025 09:22
Gas prices are good and better than expected but Production is not. Hopefully the compressor will sort the production this quarter and with the hedge ending in June, there is everything to look forward to.
However, the latest RNS puts a damper on things in a BIG way . The company had plenty of breaks to pay the debt below without any further confetti and exorbitant charges to benefit the monkeys!
Royalty Interest
As announced on 22 February 2024 at the time of Angus's financial restructuring, there is an agreement with the royalty interest holders that until the end of the Second Quarter 2025, the royalty interest can either be settled in cash or through the issue of new ordinary shares in the Company at the Company's option. Under existing arrangements and calculation methods the Company is required to issue 183,595,230 shares (or cash equivalent) in aggregate in settlement of the Q2 and Q3 2024 royalty interest. Angus intends to negotiate the timing of the settlement with the royalty interest holders and will provide an update accordingly.