Reading my previous post I want to clarify - the sale of LT was not completed, called off Nov09???.
Timeline:
Mar 09 NXS suspended from trade/certainly in financial difficulty.
May 09 original delivery of Rig
End May 09 NXS announces sale of 50% LT - solvency concerns lessened.
Aug 09 NXS placed $70m stock
Comes down to legal interpretation of rights and remedies under the contract.
standard proceedure, page-16
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Mkt cap ! $55.51M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 1 | 52526 | 19.0¢ |
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|---|---|---|
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