This is not a matter of mutual respect of opinion. Bottom line, you speak out without understanding the issue. Speaking without thinking.
READ and THINK before posting. Please read all posts and ECM proposal before posting. The shares placement (which is underwritten by ECM) will be at 0.001 not 0.005. We do not know what will be the first-day close price after the relisting. However, it is less likely to drop below 0.001 as suggested by you because 0.001 is the lowest one. You suggest that it may drop below 0.001 after relisting because dilution. The warning of dilution is because current shareholders of 590 million shares will own around 10 per cent of ERJ (after relisting on the ASX) instead of 100 per cent prior to VA. ECM and associates will own around 90 per cent. Total shares outstanding will be around 6.1 billion after relisting.
ECM proposal:
Total current shares outstanding is 594,533,600. New shares to be issued to raise $5.6 million (underwritten by ECM) at 0.001 are 5,600,000,000. Total projected shares outstanding is 6,194,533,600. Total equity ownership of current shareholders post CR is 9.60 per cent. THIS IS THE DILUTION.
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Open | High | Low | Value | Volume |
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0 | 0 | 0.000 |
0 | 0 | 0.000 |
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Price($) | Vol. | No. |
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0.003 | 31953006 | 27 |
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