The electrical testing and oil & gas equipment services group has raised £2.5m in a placing to its institutional investors to invest in oil field rental tools and working capital, as well as an outstanding deferred consideration payment. We see this as a sign of increasing confidence in O&G recovery prospects, with the CEO among those subscribing for shares. We have not made changes to our P&L estimates, other than to reduce losses per share, but have reduced our net debt fo
20 Jun 2018
Placing underscores confidence in recovery
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Placing underscores confidence in recovery
- Published:
20 Jun 2018 -
Author:
Alastair Stewart -
Pages:
2
The electrical testing and oil & gas equipment services group has raised £2.5m in a placing to its institutional investors to invest in oil field rental tools and working capital, as well as an outstanding deferred consideration payment. We see this as a sign of increasing confidence in O&G recovery prospects, with the CEO among those subscribing for shares. We have not made changes to our P&L estimates, other than to reduce losses per share, but have reduced our net debt fo