Just to clarify regarding the share bond.
You mention that ECT will issue 350 Million shares (I assume at 1c per share), which can then be bought back.
1) Will the buyback be at 1c per share, or at the current shareprice at the time of the buyback (expected to be 3-4c) ?
This would then in effect net the Bond Holder a massive profit, and cost the company multiples higher than a normal Loan agreement.
2) How is that financially better for the Shareholders vs a Funding agreement with interest rates between 15-20%
3) Why was this Bond not put out for ALL shareholders to avail?
India Project Bond Strategy - Live Q&A tonight from 7pm (AEST), page-49
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