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Morning Trading April 12, page-249

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12/04/23

15:01

Post #: 67238001
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Originally posted by Ultra: ↑

MDX reply to speedo..

The Company is targeting to raise up to an additional $2.5m via a share placement at an issue price of 5 cents per share, in accordance with the mandate dated 24 February 2023, to parties unrelated to the Company. The Company entered into the mandate with Mr Zelong Zeng to introduce potential investors and, subject to successful completion, Mr Zeng will be paid an introduction fee equivalent to 5% of funds raised (to be settled by the issue of fully paid ordinary shares in the capital of the Company at the proposed issue price). An announcement advising the outcome of this capital raising is expected to be able to be made by 20 April 2023. The Company stresses there is no certainty of the outcome of the capital raising efforts but will inform the market as soon as possible as to the outcome

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MDX. Classic example of Chinese 'investors' paying way over the odds for shares for no apparent reason. One of the great mysteries of the ASX??
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