Magnis funds Uranium company, page-2

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Names little

19,481 Posts.

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19/05/16

19:28

Post #: 17817170
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Originally posted by Names little ↑

Hi All, based on the explainatory notes it appears that MNS is funding a Uranium company. From the Uranium assets demerger I note the following

"
Beyond that the Company will fund Uranium Africa by way of an interest free, unsecured loan of $200,000 until the earlier of:

(a) Uranium Africa raising its own capital of at least $3 million (or any lesser amount which UAL determines as being sufficient to meet the minimum spread requirements under the ASX Listing Rules in connection with a future listing) from which capital the Company loan will be repaid; or

(b) 14 April 2017 being 12 months from the date on which any loan funds are first advanced to UAL. "

Now one of the reasons that has been put forward for us demerging these assets has been that some companies may refuse to deal with us whilst we are associated with Uranium.

So would just like everyone's thoughts on whether the fact that we now seem to be the principle funder of a uranium company means that we are still associated with uranium, even if just from a funding perspective and whether it means these companies that may not want an association with uranium will still not want to deal with Magnis due to this financial association to uranium.

We do appear to be supporting a future Uranium company, don't we?

Thanks

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Doesn't seem like there was too much concern re this, perhaps everyone thinks we are far enough removed from the Uranium assets. Anyway, appreciate the feedback
MNS Price at posting: 57.0¢ Sentiment: None Disclosure: Held
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Magnis funds Uranium company, page-2

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Magnis funds Uranium company, page-2

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