Thanks - I guess since their are 4 directors the average is $11k per director. Senior management are only providing $46k (i.e $90k - $44k) and there are 9 of them so that's a around $5k apiece from them. So overall average is $90k/13 around $7k per person. I guess $10k's worth of new shares (per shareholder) under the SPP will be about the hoped for norm - IMO not a make or break decision. Since the company will go from 1,840,560,341 shares to 471,913,043 (SPP) + 180,900,000 (placement) = 2,493,373,384 shares this means a dilution of 35.4% - so to stay even we need to purchase 35% of our current holding in the SPP to stay even (but will get a bit more if we take up the option later). I would guess that with so many shares on issue we will need at least a 100:1 consolidation down the line.
BLG Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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