I got the distinct impression from the AGM that all other options had been explored, that there was only one eligible buyer for Rincon and that was Charge.
Ther was a question about an additional share raising over and beyond the 15% allowable without shareholder approval, but PT explained that the numbers did not add up, mostly because the institutional investors (40%+ of total shareholdings) were not interested and their votes would be needed to pass such a resolution. Also, from my perspective, if your share price is about 1c per share, I just can't see how it could be done.
So, the way I see it there are two possible outcomes, as posted above. Even Jason Darko was unable to come up with any viable alternative during the meeting, despite he and others asking some very pertinent questions.
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Buyers (Bids)
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---|---|---|
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3 | 1400000 | 0.010 |
3 | 636111 | 0.009 |
2 | 562620 | 0.008 |
5 | 975102 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 492254 | 2 |
0.013 | 1380000 | 4 |
0.014 | 207533 | 2 |
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