RussianRoolet,
I am actually very well versed in asx listing rules.
Firstly director "plural" sold and it was a margin call. Management were in a blackout period and only a margin call was allowed at that point of time. Further directors remain in a blackout period so are prohibited from also purchasing shares at this time. I have confirmed both of the above with Neon. Not sure what your motive is in posting very inaccurate statements.
In regards to the cash position it's not as simple as being out of cash. Regardless of where the final cost figure comes in, this is not due immediately so the company won't be out of cash. They will have a liability and they have a number of options available to cover this. Options are a further farm down, asset sales or worst case a CR. As your a non holder perhaps sit back and watch how it plays out, rather than posting inaccurate dramatic posts.
- Forums
- ASX - By Stock
- NEN
- 2 wells experience significant cost over-runs
2 wells experience significant cost over-runs, page-123
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)