got absolutely nothing to do with the con note. That’s not due to be paid till 24th Dec, as per the company’s previous announcement. And they can announce an intention to raise before the meeting, the replenishment of the 25% capacity was already tabled as part of the notice of meeting. All they have merely done is to state that they intend to use it, if approved.
today’s movements are off the back of TEGs announcement. PGY has raised $6.8mln since the end of last quarter, so the missed payment cannot be due to not having the funds. Let’s see what the company has to say for itself.
must admit, I’m surprised this didn’t pause trading a lot sooner than it did today.
PGY Price at posting:
0.5¢ Sentiment: None Disclosure: Held
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