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rturve

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18/11/16

08:46

Post #: 20708120
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Originally posted by gallea ↑

I will be voting NO to the Convertible note.

Depending on SP at the time, I will be voting For the SPP. I am prepared to sell some of my shares even below 3.3 cents to participate, as I anticipate the Options will end up being worth more than the heads are today!

However, I think the terms of the SPP should be reviewed and at least discussed, so I have started a new thread for such a discussion.

Personally, I think someone should contact management with a proposal to have a SPP to raise as much as they need, eg $15 million without the "sophistos" or the CON note. There are enough supporters of XPE who can see that if XPE gets over the current speed bump that once we reach the milestones along the way that the SP will do well and would participate.

Perhaps we need an SPP which is, for example, a one for 2 or one for 3 issue, so people with large holdings can buy more than $15,000. People with large holdings are penalised compared with someone holding $500 worth who can tip in $15,000, flog the heads and make a fortune by sitting on the oppies. Maybe the oppies should not be free, maybe half a cent. We need to come up with an alternative to what has been offered. Maybe it has to be 15 percent below the prevailing price rather than fixed at 3.3 cents. Maybe they need to deliver some good news to drive the SP up a bit before the CR. Let us all hope for that!

As Oggy has pointed out, the Con note is indeed a con. The headline rate is 8.35 % but the comparison rate is about 25% and there is the 75 million oppies to "the advisors". This must be voted down.

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All well and good but no one will take up the SPP because the SP will never be above 3.3 at the closing date . The SPP will be underwritten but even they will have get out clauses in case the there are very few takers. Only good news relating to MOUs of extraordinary sales numbers from chip sales is going to save this

XPE Price at posting: 2.9¢ Sentiment: None Disclosure: Held
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Voting at the EGM, page-4

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Voting at the EGM, page-4

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