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But could a potential issue of shares be to get more of Puka...

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curiouswon

3,855 Posts.

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05/10/14

23:19

Post #: 14078401
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Originally posted by agentdownload ↑

Hi Tonik

Thanks for the response.

Pretty amazing agm coming up for meo.

the agm notice, item 4 special business, is for a 10% placement capacity above and beyond the annual 15% placement capacity that does not require shareholder approval. That is, up to a 25% share placement can (will??) be undertaken within next 12 months from the date of this year's agm (assuming item 4 special business is approved).

Of interest at the bottom of page 7, hidden away next to the *, it states that the number of shares on offer could increase under a pro-rata rights issue or a scrip issue under a takeover offer)....

It gets really interesting on page 8 where it states that the shares may be issued for a non-cash consideration. Looks like meo could (will??) be exchanging equity in a producing field or soon to be producing field for 10 to 25% of meo's total issued shares. This is a high priority for the chairman as per the annual report. So which field will it be? Montana? ES? Crux? Cash/Maple? Barossa? the list goes on. The non-cash consideration's value will be released to the market via meo.....

The chairman's intent to vote in favour is stated at the bottom of page 8.

Obviously UBS is hard at work putting a deal together on a number of fronts.

A big few months ahead...

Adl

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But could a potential issue of shares be to get more of Puka through Kea Petroleum???
More brownfield rather than some of the blue-sky ideas on this thread.
More to secure modest income rather than pursue grand opportunity.
Critical comment welcome.
DYOR

MEO Price at posting: 3.4¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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But could a potential issue of shares be to get more of Puka...

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