Let me try to wrap my head around this announcement. If they are limited to 19.9% then assuming the LOI goes ahead what is the maximum amount of the funding.
Lets say that the market cap stays where it is right now - about $150 mill - 20% of that is $30 mill. Anymore and they will go over the agreed threshold.
Its an odd agreement indeed. Why agree to buy at a future share price with a floor of 50c and no ceiling? And why call it $100 mill when the market cap would have to be more than triple what it is today to allow that to happen?
Anyway typical ASX ann. I guess- more holes than Swiss cheese. Good luck to holders and traders.
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Open | High | Low | Value | Volume |
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4 | 492850 | 0.007 |
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2 | 899995 | 0.005 |
Price($) | Vol. | No. |
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