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Justadabble

10,361 Posts.

3449

01/02/21

14:18

Post #: 50608824
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Originally posted by vcubitt: ↑

I think that will happen - by way of loan, or cash for shares in a similar fashion to the settlement of MEC's loans to Advent and Asset by transfer of MEC shares to settle the debt. MEC cannot put any further capital into Advent Energy as the company stands (to my understanding, without approval or by growing into other investment areas first).

BPH will increase its stake in Advent while MEC 's interest will fall - it is inevitable at this point. How much interest both companies will have in the end is anyone's guess (other than David Breeze that is - he knows), but I think they will be about the same, or BPH slightly more interest in the end.

I can't see DB doing anything that removes too much of MEC's interest in Advent after going to the trouble of obtaining his "reinstatement" on the board and cancelling the in-specie distribution. Advent Energy is all MEC has, beside the PDF status (which without Advent doesn't mean much).

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I have a sneaky suspicion the ASX has killed of the MMR rights issue for some reason, I feel like the BPH placement is Advents lifeline in some way shape or form. A relisted and healthy MMR is a good thing for the JV.

MMR Price at posting: 0.4¢ Sentiment: None Disclosure: Not Held
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