I am sure they have said they were fully funded for Vali and Odin until first revenue from both fields !!!
The raise does not include a SPP .
The total amount they are looking to raise is $5.6 million .
$2 million in a private placement .
An institutional entitlement offer for an unspecified proportion of the remaining $3.6 million .
Those shares along with the placement shares can be traded before the retail entitlement shares for the dregs are issued .
Trading of the institutional entitlement shares can start on June 9 and the placement shares from June 2 .
The results of the institutional entitlement offer will be announced before the entitlement offer is made to retail investors on the 2 June .
Entitlement offer ratio 5 for every 52 shares held .
An oversubscription applies to the entitlement offer .
Retail offer does not close until June 13 and retail offer shares can be traded from 29 June .
We know what the SP will do on June 2 .
I think the way it was put together absolutely stinks .
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