BUD 0.00% 0.6¢ buddy technologies ltd

#theroadto10000 have we reached 100 yet?, page-184

  1. 1,692 Posts.
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    @bens, my understanding from reading the explanatory notes for EGM in support of resolutions is that only the minority vendors (Res 4.1(b) will be issued shares subject to a 5 day VWAP prior the meeting.
    The acquisition financing to be provided by sophisticated investors will receive 226,250,000 shares at an issue price of A$0.08.
    To me this effectively should set a cap on the SP post approval by shareholders. I am concerned about minorities getting shares at the VWAP. Not sure why this was agreed as part of settlement. Dave and the chair will be putting their extra dollars in at A$0.8 per share along with other sophisticated investors. No doubt these investors have completed DD before they signed up to the placement offer docs. so we should be comfortable they knew what they were doing. Certainly they have access to far more current sales and financial information than we are privy to.
 
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