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Metaphor being the poorest form of argument. The shares may rise a bit on Monday but the market will not be seeing the share price rise significantly in the foreseeable future. Caught a cold on this one, but you cannot win them all. Should have sold on the first drop, but hindsight is the proverbial
Thu, 14th Nov 2019 07:00
RNS Number : 3954T
Eland Oil & Gas PLC
14 November 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
14 November 2019
ELAND OIL & GAS PLC ("ELAND")
STATEMENT IN RELATION TO ELCREST
Eland notes an announcement stated to be issued on behalf of Starcrest Nigeria Energy Limited ("Starcrest") in relation to Eland's joint venture company Elcrest Exploration and Production Nigeria Limited ("Elcrest") and the offer for Eland by Seplat Petroleum Development Company Plc ("Seplat").
As set out in the Scheme Document issued on 28 October 2019 (the "Scheme Document"), Eland owns 45 per cent. of the shares of Elcrest and Elcrest is consolidated into the audited final results and unaudited interim results of the Eland Group because it is controlled by Eland. The basis for this is set out in the Scheme Document and Eland's 2018 Annual Report.
Eland is satisfied that the description of Elcrest and its 45 per cent. equity stake in OML 40 set out in the Scheme Document is in accordance with the facts and does not omit anything likely to affect the import of such information.
Eland and Seplat continue to expect that the Scheme will become effective on 17 December 2019.
Its a busted flush
All brains and no enterprise savvy. Couldn't run the proverbial in a brewery. Starts ups are littered with these ******
Thank you
What is pushing the price down over the last 2 days; any ideas other than the usual price manipulators in action?
Bovis profits fall 30% price goes up 10%. Go-ahead profits fall by a wopping 5.7% and price falls by crooked manipulation 11.58%. Thieves running the stops again. Can we have computer trading that cuts out the market makers and insiders?