Tony's loving all the attention. PMO making the headlines- all this talk of mega deals, billions mentioned etc etc. He thinks he's still playing with the big boys. Shame about the SP though.
ENQ rights issue at 21p was at a 39% discount to SP. The SP dropped from 39p to 33p after the announcement in Sept 18. ENQ current SP is now under rights price. What price PMO today?
I have no idea and dont want to comment further. For all i or anyone knows the pieces of the jigsaw may all fall into place and everything will be fine. That's why investing is all a bit random no matter how much research one does.
No positives for Monday. Oil price slipping . Initial slump first thing due to placing discount fears. Traders buy in. Price recovers. PM: oil slips half a dollar. Depression sets in and ... that's as far ahead as i can see in my crystal ball!!!
The share price fall from 3.6 to 0.9 in six months and then 0.9 to 0.75 in a week tells you something. No matter how good the story, no matter how much of a dead cert - spread risk; live to fight another day.
What I would like to know is... who fed this (fake?) rights issue story to the press? At the moment any mention of a placing is enough to tank the SP of any company. I wonder who would stand to gain from feeding a journo this sort of tale?