While it’s cheap as they say… time to research the rns for 2 spuds before xmas and think why Sonangol - Africas second largest oil producer- is pushing forwards with continued flow testing on both oil discoveries…
I wouldn’t be fooled by them dropping the bid. It’s been NT to buy more than 1m shares all morning. Only 4 grand. Feels like they’re filling something behind scenes
Management prepared to pay 142% premium for a large shareholders shares
RNS just now
Under the terms of this agreement, RJ has the right from 16 April 2024 until 1 September 2024, to sell up to 99,000,000 ordinary shares of the Company to EXT, representing 4.87% of the ordinary shares currently in issue, at a price of £0.0075 per share. This price represents approximately a 142% premium to the most recent closing price of the Company’s shares.