Ummm......the H1 filing statement points out that MMJ's stake can be fully diluted to under 50%, as per the statement:
"On a fully-diluted basis, assuming 117,516,451 Resulting Issuer Common Shares outstanding, Phyto UK will hold approximately 35.3% of the Resulting Issuer Common Shares, and MMJ will hold approximately 10% of the Resulting Issuer Common Shares".
Thus, to keep their interest above 50% one would expect them to re-invest back funds into H1 to nullify the potential drop to circa 45%.....win/win in the current climate, but hey, who would've expected their investment in ESE? Anything is possible with MMJ, perhaps they're buying something else? Announcement is material, so how about hemp handbags? T-shirts? Scottish tartan?
Ah, MMJ expect the unexpected.
MMJ Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
