The way I read it, the 2 warrants granted to "Keystone" (worth ~ 2.3 M AS) and to "L2" (worth ~ 1.3 M AS) have no exercise restrictions at all. Basically cash.
Why? Do we pay for services with unlisted shares?
Did Keystone not receive any money for "Keystone was appointed to manage the development of the York facility" and this is the payment? Or is it a nice bonus for delivering on time? Nice bonus!
Did L2 not receive any money for "was engaged by Unilife to custom design the facility to comply with pharmaceutical standards and good manufacturing practices" and this is the payment? Or is it a nice bonus for delivering on time? Nice bonus!
Is it a coincidence that the warrants are bound to the value of the shares on Dec 2nd, the lowest it has been for a year? Who are the beneficiaries of this? Almost looks like kick-backs.
We just had a CR diluting the value of our shares - without specifics I may add. Now we see unrestricted warrants going out, further diluting the value of our shares.
It would be nice to have some explanations about this.
I am really starting to get worried. Give me 100K warrants and I'll shut up.
UNS Price at posting:
88.5¢ Sentiment: Hold Disclosure: Held