Carabaea,
So that they could say that the farm-out had not fallen apart while going ahead with the raising?
Not a good plan if you value your liberty IMO (for the board and management that is).
Surely now OEL will do some deal with BHP and either re-price or do watever is required to get the placements and rights issue away. The alternative is not worth considering.
The answer will emerge shortly I would imagine - with the window for acceptances of the rights issue opening tomorrow the company will need to advise shareholders what the situation is soon - possibly before open tomorrow??
My opinion is that it must be bad news as OEL would be aware how bad this looks and would clarify the situation if it were not. How bad remains to be seen.
p1000
Ann: Suspension from Official Quotation , page-10
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