< "> edit this post http://www.investegate.co.uk/afren-plc-%28afr%29/rns/trading-statement-and-operations-update/201301210700069619
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In an attempt to cut down the header page,i've transferred some of the older news to Page1 post No.3.

http://www.oil-price.net/index.php?lang=en
http://www.ft.com/home/uk

http://www.investegate.co.uk/Article.aspx?id=201111020700081674R
http://www.investegate.co.uk/Article.aspx?id=201111150700250723S
http://www.investegate.co.uk/Article.aspx?id=201112010705051251T
http://www.investegate.co.uk/Article.aspx?id=201201170700146472V
http://www.investegate.co.uk/Article.aspx?id=201201230701479690V
http://www.moneyam.com/action/news/showArticle?id=4323758
http://www.investegate.co.uk/Article.aspx?id=201204170700164488B
http://www.investegate.co.uk/Article.aspx?id=201205140700212304D
http://www.investegate.co.uk/Article.aspx?id=201205210700407032D
http://www.moneyam.com/action/news/showArticle?id=4430164
http://www.investegate.co.uk/afren-plc-%28afr%29/rns/significant-new-seychelles-3d-seismic-programme/201212120700052973T/
http://www.investegate.co.uk/afren-plc--afr-/rns/2013-half-yearly-results/201308230700063334M/
http://www.investegate.co.uk/afren-plc--afr-/rns/ogo-drilling-and-resources-update/201311190700083404T/
http://www.investegate.co.uk/afren-plc--afr-/rns/trading-statement-and-operations-update/201401280700096280Y/
http://www.investegate.co.uk/afren-plc--afr-/rns/interim-management-statement/201405200700135209H/
http://www.investegate.co.uk/afren-plc--afr-/rns/interim-management-statement/201410300700116483V/
http://www.moneyam.com/action/news/showArticle?id=4942625
http://www.moneyam.com/action/news/showArticle?id=4943375

IEC did a similar placing, diluting the company by a third(from memory), once
they settled down the SP returned back to former rates and of course gained
considerably.
AFR have also indicated they wish to join the main market, something which can only be seen as possitive long term.
I've added todays news to the heder.
I've personally closed my positions until i see hoe things work out, but will be watching and will buy back .
cyril

Oh, yes and technically the sp should halve but in reality I don't expect it will: if anything we might even see an increase when the dust settles and investors realize the true potential now of AFR.

The company will have a large capital which should undermine the value of the shares...if you took away the capital and were just left with a huge extra amount of shares : the sp would plunge but with that amount of dosh in the coffers and the capital bit by bit being used on Ebok....the sp should remain around current levels...and the closer we get to production so the market in theory should price this up !.

Okay, AFR now looks very securely funded and the likelihood of move to main market is very important. I took this rns as very good news and have bought back in around 35 pence. The dilution is insignificant to the upside. Very happy.

"Yes Cynic, you are correct" would have sufficed, but thank you - lol!

The shares coming to market are probally already spoken for anyway imo

Cynic, lol!

This will be in my Isa at some stage...certain !.

Some of my thoughts.

1 Why issue such an RNS as the SP was most likely to fall?
Answer, So the issue price (which will probably be at a discount)is lower, to
satusfy the institutions?

2 I agree that the issue is likely to be already subscrubed,i base that on the
statement regarding funding prior to the prelimaries?

3 As above a discount to the SP which could be 30p (or less)?

4 The move to the main market is really positive, "but its expensive"

5 A mirror of IEC when(from memory) the SP dropped from 450pish to 4
before recovering.

It'll be interestong to see what the next RNS has to tell us and i await before
commiting myself on what will be a long term investment. As Required feild points
out it will be "isable" so worth keeping in mind.
almho
cyril

cyril

Some of my thoughts.

1 Why issue such an RNS as the SP was most likely to fall?
Answer, So the issue price (which will probably be at a discount)is lower, to
satusfy the institutions?

2 I agree that the issue is likely to be already subscrubed,i base that on the
statement regarding funding prior to the prelimaries?

3 As above a discount to the SP which could be 30p (or less)?

4 The move to the main market is really positive, "but its expensive"

5 A mirror of IEC when(from memory) the SP dropped from 450pish to 4
before recovering.

It'll be interestong to see what the next RNS has to tell us and i await before
commiting myself on what will be a long term investment. As Required feild points
out it will be "isable" so worth keeping in mind.
almho
cyril

Than...Than..Thanks !...Nnnnice oneee cyril...you would wouldn't be be be Bbbrainnss from Thunderbbbirrds wwwould yoouu ...?!...

hello cyril, cyril & cyril

Sorry, could you repeat that please Cyril ;o)

RNS Placing already done to raise $125m

Now listen you lot of piss takers, i'm so old i remember putting blue paper between
sheets of paper to get triplicate. With todays technolgy (and with my special mouse) i can do it at click of the finger.
lol
cyril

move to main market was planned last year but the credit crunch dive in the markets put this on hold but I also look forward to putting this one inside an isa. It has been stated on the other side that the funding issues were putting a damper on the sp rise--this has now been addressed so what's the next excuse I wonder?? over to you cynic!

LoL cyril.
This is looking very good now, placing price news digested and now tally-ho to the main markets. Pretty shrewd work here, well done the management. I see no stopping this honestly.

Result of Placing (Afren)





TIDMAFR

RNS Number : 6017Q
Afren PLC
15 April 2009

?
15 April 2009


Afren plc (AFR LN)


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO
AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES


Result of Placing - GBP84.8 million ($126.3 million) Raised


Afren plc ("Afren" or the "Company") announces that it has raised GBP84.8
million ($126.3 million) before commissions and expenses by the placing
completed today of 265 million new ordinary shares of 1 penny each in the
capital of the Company (the "Placing Shares") with institutional investors at 32
pence per share (the "Placing"). Merrill Lynch International ("Merrill Lynch")
is acting as sole bookrunner and Jefferies International Limited ("Jefferies")
and Morgan Stanley Securities Limited ("Morgan Stanley") are acting as co-lead
managers, in relation to the Placing.


The Placing represents in aggregate approximately 59.3 per cent. of the issued
share capital of Afren prior to the Placing. The Placing Shares will, when
issued, rank pari passu in all respects with the existing issued ordinary shares
of Afren, including the right to receive all dividends and other distributions
declared, made or paid after the date of issue.
cyril

Sold one quarter of my holding earlier on to bank a profit, wish I hadn't now....could have waited for weeks for this excellent result !.