02/10/2014 15:28:19 Cookie Policy Free Membership Login

Bowleven (BLVN) Takeover Rumours

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Bowleven Takeover Forum Posts

04-09-2014
Takeover ;-)
27-08-2014
GHHGHHNo argument from me that the assets of the company are superb. But there is a big issue here that isn't getting discussed.What about the cash position and BLVN's ability to continue as a going concern? None of the cheerleaders seem to mention this. If a deal with Lukoil (or someone else) isn't completed by the end of October the company will be running on empty as it'll be down to around £10m when you factor in contingent liabilities. The auditor will be reluctant to sign off as a going concern without assurances on future finance.Yes, it might be possible to raise finance through loan notes but without a deal on the table that monetises the assets these loan notes will attract high rates due to the level of risk.I remain unconvinced that a takeover at 60p is possible should Lukoil fall through. If we get to the end October and need to agree a takeover to continue, do you not agree that there'll be a fire sale element to the discussions?


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