Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Disappointed with the raise but was kind of expecting it, so no surprises there.
When will they look to re enter 103?
Personally, expecting 70 plus easily, especially if they still L2 first.
Expecting PR to pick and they'll be appearing at the oil conference in another 7 trading days or so :-)
https://twitter.com/sadaatumar/status/1139929678700040192?s=19
Should be excited 5-6 weeks here imo.
https://twitter.com/sadaatumar/status/1137850866881519622?s=19
https://twitter.com/sadaatumar/status/1135549257556090880?s=19
Great news all arounf and well done BOD.
Market has got the assurance that it needed.
Matd has just gone up by 50% just within a fortnight and yet further to go, so i wouldn't be surprised if we are sitting in 70's pre spud imo.
Expect PR to follow too and they will be also attending the Oil Conference on 25th.
Coro Energy plc
("Coro Energy" or the "Company")
Previously Intended Open Offer
Coro Energy, the Southeast Asian focused oil and gas company, previously announced on 16 February 2018 that it intended, following completion of a placing of and subscription for new ordinary shares to raise approximately £14 million at a price of 4.38 pence per ordinary share (the "Placing and Subscription"), to offer qualifying shareholders with the opportunity to subscribe for new ordinary shares at the same 4.38 pence per ordinary share price as was available to investors under the Placing and Subscription in an intended open offer of up to £2 million in 2018 (the "Previously Intended Open Offer").
The Previously Intended Open Offer was not required by the Company to fund operations but was instead intended to provide qualifying shareholders with the opportunity to subscribe for additional ordinary shares at the same price as was available to investors under the Placing and Subscription.
The Company's ordinary shares have, since completion of the Placing and Subscription, traded below the price at which the Previously Intended Open Offer was to be launched and the Directors do not therefore believe that it would be a productive use of Company funds to proceed with an open offer at a premium to the prevailing share price at the current time. As a result, the Company no longer intends to proceed with the Previously Intended Open Offer.
It will arrive anytime within the next 9 days.
Company will be attending the oil conference on 25th June.
The company has said previously that they will do PR after junior debt facility has been signed off, so definitely a positive sign
https://www.oilcapital.com/conferences/