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9.6¢ walkabout resources ltd

Ann: Proposed issue of securities - WKT, page-45

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spid81

16,332 Posts.

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25/06/21

22:41

Post #: 54084167
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Originally posted by Mercury_Rising ↑

It looks to me that firstly Tranche 3 is further broken into 3 tranches.
The pricing of Tranche 1 will be determined 2 months after payment based on a 5% discount to the avg 5 day VWAP over the 20 days prior to issue. There is a floor price of 12c but no cap on the upside.

So calls of 17c by the trolls are premature and there is every possibility that the raise will occur at a much higher price given the progression of the company. This is why there is also the relevant clause about rounding down to the nearest cent if the raise price exceeds 50c.

The company can repay the funds plus 5% if they do not wish to proceed with the share issue - I assume in case they get a better offer or it doesn't get approved etc.

Lots of good news for holders!

GLTAH

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Mercury,

How did you come up with that conclusion when the ASX announcement states

The first tranche will raise US$1.7m using the Company’s current capacity under Listing Rule 7.1, and is expected to occur in the next week

If you read this threads ASX announcement, it details this will occur on the 29th of June.

WKT Price at posting: 21.5¢ Sentiment: None Disclosure: Not Held
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