President is again demonstrating its ability to adapt rapidly to extreme macro conditions to maintain the balance sheet and keep its asset portfolio intact. A further US$6m subscription from Trafigura alongside a US$4.1m debt for equity swap will reduce debt to ~US$15m. Working capital will also be boosted by up to US$3.1m from the equity placing plus £2.2m from the retail offering. These not only materially improve the balance sheet but also bring President into strategic alignment wit
04 Jun 2020
President Energy - Trafigura taking a strategic stake
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President Energy - Trafigura taking a strategic stake
Molecular Energies PLC (MEN:LON) | 7.0 -0.1 (-17.6%) | Mkt Cap: 0.87m
- Published:
04 Jun 2020 -
Author:
Jonathan Wright -
Pages:
12
President is again demonstrating its ability to adapt rapidly to extreme macro conditions to maintain the balance sheet and keep its asset portfolio intact. A further US$6m subscription from Trafigura alongside a US$4.1m debt for equity swap will reduce debt to ~US$15m. Working capital will also be boosted by up to US$3.1m from the equity placing plus £2.2m from the retail offering. These not only materially improve the balance sheet but also bring President into strategic alignment wit