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3.9¢ g medical innovations holdings limited

Ann: Proposed issue of Securities - GMV, page-3

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Brett M H

1,612 Posts.

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16/01/20

19:07

Post #: 42421111
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Originally posted by huwscor ↑

“
To be issued in accordance with the funding facility with GEM Global Yield LLC SCS. The price of the shares to be issued to GEM (or its nominees) will be 90% of the higher of the average closing bid price of GMV shares as quoted by ASX over the pricing period, being the 15 consecutive trading days after GMV gives the draw down notice to GEM (deemed to be 15 January 2020) subject to certain adjustments or a fixed floor price nominated by the Company in its draw down notice (which was $0.08).”

So are we expecting a good announcement over the next 15 trading days to get the average closing bid price as high as possible?

Drawdown seems to be a minimum of about $1m loan.

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Can someone please shed some light on these two announcements?

Why is Dr G transferring some of his shares for GMV's draw down on the GEM funding facility?

Shouldn't the shares for this draw down be new shares issued by the company?

Or have I totally missed something?

Thanks in advance!!

GMV Price at posting: 9.0¢ Sentiment: Hold Disclosure: Held
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