CVN 10.8% 16.5¢ carnarvon energy limited

Share Consolidation

  1. 570 Posts.
    lightbulb Created with Sketch. 100
    With a possible $400-$500 million US which equates to approximately $565-$705 million AUD needed to fund our share of costs to get Dorado to production I’m hearing a possible share consolidation could be on the cards to make it easier to raise funds with larger institutions.
    At a 10-1 consolidation that would give us approximately 160 million shares on issue for a share price around $2.50 based on Friday’s close or at a 5-1 consolidation that would give us approximately 320 million shares on issue for a price around $1.25 based on Friday’s closing price.
    Could this be part of the grand plan and the reason for the current push to get the share price higher.
    I personally don’t like consolidations but can see the merits in the current situation CVN finds itself.

    Last edited by Fosss: 18/10/20
 
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