MNS AGM presentation, page 4, confirms the issuing of 104m options with a strike price of 9.5c. This in effect results is a 23% dilution (104m options / 444m shares on offer = 23% dilution) by May/2017 for the sum of $9.88m.
Given the share price of ~$0.70 it’s a fair conclusion to draw, in my opinion, that the additional 23% coming onto the market between now and May/2017 will act as a counterweight.
MNS MC of ~$309m, but 23% = $9.88m. Have I missed something? Typo in the annual report?
MNS is so under-rated, page-141
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