That's a reasonable assumption kramer43. Another scenario would be that Bergen will still be converting $2.18 mil worth of shares at 90% of the prevailing sp. So if the sp drops to o.2c after trade resumption they will be getting well over 1 billion shares, giving them more than 50% of the company. Prime example would be PRA now THD: They issued $1 mil worth of connotes at 0.1c giving the holder 1 billion shares just before the RTO of Thred. Those shares are now worth a whopping $8 mil after consolidation, it would have been worth $10 mil at indicative relisting price but the sp dropped since then. If things unfold in this manner then current holders are diluted to oblivion even if they successfully vend into a new business. It would make much more sense for Bergen to convert at the bottom than wait for the sp to appreciate to convert. That's why they are called vultures.
- Forums
- ASX - By Stock
- NZS
- Ann: Board Resignations-XTV.AX
Ann: Board Resignations-XTV.AX, page-196
-
-
- There are more pages in this discussion • 105 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
TG1
TechGen Metals kicks off airborne geophys survey at Sally Downs copper play – a first for the permit
KAI
Pilbara Minerals buys land off Kairos part of its York gold project for $20M – and a 2% royalty on any PLS gold sales
Add NZS (ASX) to my watchlist
(20min delay)
|
|||||
Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.334M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
NZS (ASX) Chart |
Day chart unavailable