Assuming a 50% take up, there will be about 3 bill issued shares. The options being exercisable at 1.5c implies an EBITDA or positive cash flow of about 5 mill to be in the money.
The options are keeping me sitting on the fence, just. Waiting to see the guidance in the prospectus.
IMO etc
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Ann: Dispatch of Prospectus and Entitlement Offer Form, page-4
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