Headline :
Nexus expected to provide update on funding talks today – report
Main body :
Nexus, the Australian-listed energy company, is expected to provide an update on emergency funding talks today, the Australian Financial Review reported.
The paper said, without citing sources, that Nexus executives are thought to have been at work over the long weekend seeking a solution to funding problems. Nexus’ shares have been suspended from trading for over five weeks.
The article said that Nexus required additional funding to avoid administration following the failed sale of its stake in the Crux liquefied gas project.
The paper said that Nexus had AUD 51.7m (USD 37m) in cash at the end of the financial half ended December 2008, and secured an additional USD 19m by selling the AC/P41 exploration permit to Shell.
Target: Nexus Energy Limited
Source : Australian Financial Review
Size : 50m - 100m (AUD)
Value : 52 m AUD (Nexus cash as of December half)
Stake Value : N/A
Grade : Rumoured
Alert : Australian M&A Intelligence
Intelligence ID : 790664
nexus expected to provide update on funding
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