President has announced a share subscription and debt for equity swap that will see commodities trader, Trafigura, become a significant shareholder in the company. Combined, this will reduce President’s ~$32m debt by ~US$6m initially and up to ~US$15m if additional subscription and debt for equity conversion options are taken up. This not only materially strengthens President’s balance sheet, providing greater organic and inorganic investment flexibility, but further verifies the
20 Jan 2020
President Energy - Strengthening the balance sheet
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President Energy - Strengthening the balance sheet
Molecular Energies PLC (MEN:LON) | 8.8 -0.2 (-22.2%) | Mkt Cap: 1.08m
- Published:
20 Jan 2020 -
Author:
Jonathan Wright -
Pages:
5
President has announced a share subscription and debt for equity swap that will see commodities trader, Trafigura, become a significant shareholder in the company. Combined, this will reduce President’s ~$32m debt by ~US$6m initially and up to ~US$15m if additional subscription and debt for equity conversion options are taken up. This not only materially strengthens President’s balance sheet, providing greater organic and inorganic investment flexibility, but further verifies the