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Scirocco – More On That Greenan Deal

By Nigel Somerville, the Deputy Sheriff of AIM | Friday 15 July 2022

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.

I have been pulled up over my article covering the deal whereby AIM-listed Scirocco Energy (SCIR) ponied up £1.2 million as a loan to Energy Acquisitions Group (EAG), which EAG then used to acquire Greenan Generation Limited (GGL). The salient point for me is that all the capital seems to have come from Scirocco, but it effectively only gets half of GGL.

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