http://www.bloomberg.com/news/articles/2016-03-17/gulf-keystone-tumbles-to-seven-year-low-as-future-in-doubt
Gulf Keystone Petroleum Ltd. fell to a seven-year low in London
trading after saying its future depends on obtaining new funds and
restructuring the balance sheet as bond repayments loom.
The
shares sank as much as 21 percent to 9.5 pence, the lowest intraday
price since March 27, 2009, and were at 10.5 pence as of 8:23 a.m. local
time. The slump extends the stock’s 12-month decline to 72 percent.
“The
group faces material uncertainties relating to its ability to meet the
significant coupon payments in April and October 2016,” the London-based
company said Thursday in a statement. It also faces debt repayments of
$250 million in April 2017 and $325 million in October 2017.
Makes you wonder with amazement as to who is absorbing these loses and why is it not showing up?
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