PMO reaches deal
Posted: June 5th, 2020, 7:15 am
https://www.voxmarkets.co.uk/rns/announ ... 72b35f034/
(NB Vox is an alternative RNS source to the 'upgraded' and now unusable londonstockexchange site or the formerly reliable but now irredeemably slow Investegate)
Looks very positive for Premier Oil: price and abandonment costs for BP acquisitions reduced, ARCM drop court case in exchange for small-discount issue of shares amounting to 9 percent of equity, which they will use to reduce their short position (and they've agreed not to add to it).
Disclosure: long term holder, topped up in recent carnage, recovering but still underwater.
(NB Vox is an alternative RNS source to the 'upgraded' and now unusable londonstockexchange site or the formerly reliable but now irredeemably slow Investegate)
Looks very positive for Premier Oil: price and abandonment costs for BP acquisitions reduced, ARCM drop court case in exchange for small-discount issue of shares amounting to 9 percent of equity, which they will use to reduce their short position (and they've agreed not to add to it).
Disclosure: long term holder, topped up in recent carnage, recovering but still underwater.