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METGASCO LTD (ASX:MEL)ELK PETROLEUM LIMITED (ASX:ELK) - Ann: Termination of Elk Petroleum Merger, page-11 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum
MEL ELK

Ann: Termination of Elk Petroleum Merger, page-11

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  1. doctornoh
    2,015 Posts.
    lightbulb Created with Sketch. 147
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    17/03/15
    16:39
    Post #: 14929302
    What a debacle.

    How much has this Board spent on advisors fees?

    What are the chances of MEL getting its $1.6m back?

    this is what our esteemed chairman Mr Gill said at the time the merger was announced:

    “We have a process underway to source additional finance and are pleased with the significant interest shown by financiers to date. We expect the financing process to conclude by 31 March 2015 at which time the Scheme of Arrangement activities will be initiated.”

    I cant say im impressed even though I think we have dodged a massive bullet on this deal. And lets face it, a share issue at the current time to fund ELK would be massively dilutionary to existing holders.
    ELK Price at posting: 2.4¢ Sentiment: None Disclosure: Not Held
    MEL Price at posting: 2.1¢ Sentiment: Hold Disclosure: Held
    Likes Created with Sketch. 12  Upvote
    lightbulb Created with Sketch.  Great analysis
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