It should have been 1:1, n moreover it's open offer for retail investors n not rights issue. TOR has mentioned its oversubscribed this time, if any retail investor didn't buy he would have allowed institutions to pick at the same price. He would have raised whatever desired amount with FairPlay but adopted to hit retail investors so hard. Can't we raise our voices together?
This is well orchestrated, they might lure more investments n dilute again in the name of Spanish point. Those who brought for years been hit so hard shirts been ripped out. Watch out take this ino .... Don't u all know .... Watch this space TOR famous quote
This is fraud played on retail investors by pvr n TOR, they diluted asset massively by selling 66 million of shares at 25 p to institutions I.e 5:1 where as for retail investors 1:4.4 this is called day light scam, robbers are on the streets. They are fooling all of us with the name of Barryrow asset, there should be fca inquiry in recent stock allocation. Huge scam this is, can't we raise our voices.? Anyone could advice how CEO can take such drastic dilution of stock n hitting retail investors so hard
During Interim results brief he did mention deal will be done soon and in weeks and months ahead
That's only came in last RNS along with commercial terms been agreed etc Aug 26th - Central to our activities has been the Barryroe farm-out process, which is now nearing completion. Sep 30th - As we stated at our Annual General Meeting last month, the Barryroe farm out remains our main priority. Negotiations are now at an advanced stage and we are working hard to satisfactorily conclude this with the objective to return cash to the business and obtain capital funding, whilst also ensuring that Providence retains a material stake in Barryroe, with a clearly defined road map for the timely drilling (2015) and development of the field.
In earlier RNS the statements came that conclusion of deal is close
TOR advised about the getting deal done for past 1.5 year but nothing been done, because of his statements lot of us lured into this stock and never seen a light. Can he be pulled into courts? the statements what he provided is very price sensitive
If ACC is dumping there shares they would have done since last week and can't see many sells yesterday. Foul play in place, someone should be dumping the stock else it wont be available for cheaper price.
TOR - Bluffmaster at work, he releases something positive RNS and immediately an RNS (negative) released