The reason for the silence is I think everyone pretty much knew this was coming, i've even been keeping funds aside specifically for this.
Obviously a discount to current price and then the SP drop following the announcement isn't good short term for TRF. However I don't really see how its not good news for IFE?
I assume TRF are doing their CR first, so that they have the funds to take up IFE's CR which I would guess will happen in the next couple of weeks following this CR. You have to remember Ian is heavily involved with both companies and they will be working coherently to get this happening.
By TRF completing a CR I think it is actually a bit more on the positive side for IFE, as it means TRF are obviously planning to take up at least some or all of their entitlement for an IFE raising which should be announced within weeks.
I just hope all this CR stuff for IFE and TRF can get done and dusted, put behind us and the company can concentrate on get IO out the door and on a ship before the end of this year. Any variation to that will be very disapointing.
TRF Price at posting:
43.0¢ Sentiment: Hold Disclosure: Held
