President announced that international commodity trader Trafigura is to directly invest up to $10m in the company. The initial investment is for $4m at 4.04p/sh, and this will be deployed to pay down debt. In addition, lender IYA Global has agreed to convert up to $4.825m of debt into equity, with an initial debt swap of $1.95m at 4.04p/sh. This will significantly reduce current debt by up to c$15m, thereby allowing President to accelerate development activity across the portfolio. We believe
20 Jan 2020
Trafigura deal validates potential
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Trafigura deal validates potential
Molecular Energies PLC (MEN:LON) | 7.0 0 0.0% | Mkt Cap: 0.87m
- Published:
20 Jan 2020 -
Author:
Ashley Kelty -
Pages:
7
President announced that international commodity trader Trafigura is to directly invest up to $10m in the company. The initial investment is for $4m at 4.04p/sh, and this will be deployed to pay down debt. In addition, lender IYA Global has agreed to convert up to $4.825m of debt into equity, with an initial debt swap of $1.95m at 4.04p/sh. This will significantly reduce current debt by up to c$15m, thereby allowing President to accelerate development activity across the portfolio. We believe