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23:18
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Originally posted by franky1
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Below is an extract from the capital raising to Sprott.The options will include a clause whereby if, commencing on the 30th day after the date of issue of the options, the closing price of the ordinary shares of the Company on the Australian Securities Exchange is higher than A$0.040 for 20 consecutive trading days, then on the 20th consecutive trading day of such period (the “Acceleration Trigger Date”) the expiry date of the options will be accelerated to the 20th trading day after the Acceleration Trigger Date and the Company will issue an ASX announcement within 2 trading days of the Acceleration Trigger Date announcing the new expiry date of the options and give notice of the new expiry date to the option holders
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Can I ask a stupid question? If Sprott exercise, isn't there a danger that they will simply proceed to take profits, resulting in a fire sale down to, or close to, the strike price? My apologies if this has been canvassed before, or if I'm missing something. It's late and I haven't slept much this week, due to work
