Well, it looks to me like LDA will own very close to 50 percent of the company if the 400 million share allocation is approved at the General Meeting. This includes the fact that LDA already owns 51 million, representing over 9 per cent of the company. This 51 million was for a convertible note conversion to shares. Notice how CLZ wants to maintain their capacity to issue shares up to 15 percent without disclosure to shareholders. This is an indication they want to issue more shares without shareholder disclosure. So they want to get all of these shares approved in addition. If this goes ahead they and LDA will control the company & they wouldn't even need to worry about minority small shareholders. Anyway, CLZ will continue issuing shares & continue to dilute existing holders anyway. Normally a company can only take over another company by buying up to 20 per cent & then make an offer for the rest of the company. They look like they have got around this. On the 7 of July 2024 they were due to come up with the other $350,000 to be paid to Rividium, being the balance of the Forestania purchase- let's see if that happens. I can't find the LDA 400 million issue price. it might be 1.4-tenths of a cent. That would be $560,000. So that would be for a controlling interest in the company. Would anyone else like to try to unravel this? I'm not trying to say I'm right, just doing my best to try to unravel this mess. It looks to me like minority interest are not being taken into account because CLZ has just gone out & done some deal and is trying to get shareholder approval for LDA to have 50 per cent of the company . How do others read this ? If the LDA 400 million is approved and they already own 51 Million making 451 million in total - how much of the company do people think they will own?
CLZ Price at posting:
0.1¢ Sentiment: None Disclosure: Held
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