Cabot Energy postpones insolvency with up to £2.8 million fundraise at just 0.1p – Oh dear
By Tom Winnifrith, The Sheriff of AIM | Tuesday 12 February 2019
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Once upon a time shares in Cabot Energy (CAB), then Northern Petroleum, traded at almost 150p. Today it announced a bailout funding at just 0.1p. despite it raising $15.3 million at 5p just a year ago. Oh dear… and it could get worse.
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