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12/11/16
17:33
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Originally posted by chambo
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I was particularly interested in this comment so I went through the Bid Implementation Agreement.
The number of shares to be issued is 3.077999 ACU shares per 1 Plus Connect share.
There is no ability to vary this unless the Agreement lapses.
Dilution will occur to the tune of 34.9% should the Agreement go ahead.
The positive in all this is that with a higher sp the plus connect shareholders are more likely to ratify the Agreement.
More upside to come methinks.
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For obvious reasons we hope it goes ahead as the lottery rights are a potential goldmine.
But if you look at section 3.6 and 9.1 (b) the proposal has lapsed and ACU can terminate ie make a new proposal.
Also section 3.7 is a variation clause.
It a win win either way.
As great as this business appears the current main game is the mobile donation growth that attracted Google to ACU.