Market Impact: Negative. LGO has agreed to pay approximately £0.95 mm to settle a number of outstanding invoices with existing creditors and advisors. Based on the stock's current trading price, we estimate that LGO will issue approximately 244 mm shares, which represents dilution of approximately 8%. The Company continues to have a net creditor balance of approximately £0.7 mm, exclusive of drilling funds of approximately £2.7 mm drawn down from its bank facility and ultima
04 Dec 2015
LGO ENERGY (LGO LN) ISSUES SHARES TO PAY CREDITORS
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LGO ENERGY (LGO LN) ISSUES SHARES TO PAY CREDITORS
Columbus Energy Resources (CERP:LON) | 0 0 0.0%
- Published:
04 Dec 2015 -
Author:
Darren B. Engels -
Pages:
2
Market Impact: Negative. LGO has agreed to pay approximately £0.95 mm to settle a number of outstanding invoices with existing creditors and advisors. Based on the stock's current trading price, we estimate that LGO will issue approximately 244 mm shares, which represents dilution of approximately 8%. The Company continues to have a net creditor balance of approximately £0.7 mm, exclusive of drilling funds of approximately £2.7 mm drawn down from its bank facility and ultima