Agreed. Altho' the idea of share consolidation sucks. I was hoping it be cancelled but I guess, my hope for that is dashed now.
I agree with JDragon that LTH should be given free options instead of having to pay $0.001 per bonus option.
From the look of it - consolidation then, bonus option;
If the "investor(s)" for the Future Placement Shares is Intel or any of the big IoT companies, I can understand why the Company propose to implement the consolidation. That's why again I stressed on the importance of the "investor(s)". In the Notice of Meeting, stated that the consolidation will attract investors.
Once consolidation is completed, the share registry (if we have strong investor(s) ) will be very strong. Share capital will be reduced to about 890,399,023 shares (including Jemsoft 50 million [allotment before consolidation]). Post consolidation - approximately 45% (rough calculation) will be Top 20 [some previous Top 20 may be dragged out of Top 20, hence IMO, the share registry will be much stronger].
Closing date for acceptance of bonus option is 6 July 2017. SH has approximately 1 month after 30 May 2017 meeting to decide on taking up the bonus options. Although I would love for free options, but I am glad I can still have the option to get back my portion of shares which I will lose via consolidation at 0.001 per bonus option (of course I hope b4 the closing date, we will know who the investor(s) is/are and what sales/products are expected to be launched/produced before investing $ again into the Company).
Announcement:
The aim of the Bonus Option offer is to give loyal shareholders the offer to participate in the short term growth of the Company as it brings its products to market and, at the same time, to generate funds which will assist in the rollout of those products.
Yes, the short exercise period for these bonus options is interesting.
Yea, the word "bonus" reminds us (LTH) of the previous announced "bonus shares". But this time, the Company has lodged the Appendix 3B.
JMO PDYOR
XPE Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
(20min delay)