So if the SP stays below 2.4 until the close of the retail offer in a few week's time, then the underwriter takes a big hit OR does MRM choose to pay the "break fee" and walk away from the Jaya deal? If they did this they would still have instos money in hand from the insto raising last week. Only one thing is sure: the underwriter will be sweating right now. And MRM management will be scrambling to do their sums on the Jaya deal again.
IF the retail offer is a flop then MRM will have to announce this outcome to the market and there is no way they can spin this outcome as positive! The market will be saying "we do not like the Jaya deal terms, so you do not have our blessing". SP can only fall further in that event? Or am I being too pessimistic?
MRM Price at posting:
$2.29 Sentiment: Hold Disclosure: Held
