9.6m shares sold to instos, page-21

The earlier discussion regarding the cap raising was not to predict a cap raising as it had earlier been announced and was no surprise but we were speculating whether Golar would participate. There was another raising earlier this year and they did not participate.

Anyway I went through the recent substantial holder notices along with the recent Top 20 on the LNG website and concluded that both Arrow and Golar did not buy shares in the recent placement. Now in my mind this makes sense when looking at the presentation on the 13/10 pg 17. This has the estimated equity requirements for the project:-

LNG ($100M) + AOE ($50) + Golar / Toyota ($100)

Given AOE and Golar already have significant commitments of their own it makes sense that LNG raise cash for their commitment from other sources. It also makes sense that Golar sell down their LNG holding to raise cash to meet their obligations. My reasearch indicates Golar are still keen on this project (Golar presentation allued to on another thread).

ALTERNATIVE VIEWS WELCOME!!!..and yes it is all possibly common knowledge

Disclosure: this post and research was done while watching fashion TV and may contain errors.

Avagoodweekend all especially poor old RandR (its all your fault!!!(sarcasm))