Australia's largest stock trading and investment forum Australia's #1 stock forum

WMC

Click for more information

0.00%

20.5¢ wiluna mining corporation limited.

Ann: Entitlement Offer Update, page-20

First 20 Last

Share
Profile

Follow
Dabble010

4,276 Posts.

1472

10/04/19

17:02

Post #: 38083813
Share

Originally posted by hotcoppa: ↑

In the notes of the Prospectus it says

"If MACA and/or Lind take up a portion of their respective sub-underwriting commitments, amounts owed to them will
reduce by the corresponding amount, with funds raised under the Entitlement Offer also reducing by that amount."

Since the target fund raising was $25.8m and the amount raised was $25.8m it seems to me that both MACA and Lind took up... ZERO.
.
So of the $25.8m raised,
$1.8m is used to pay expenses of the offer,
$10m is as a repayment to Lind and MACA and
a portion of the $4m working capital is being allocated to further repayment to MACA.

Saying that Lind and MACA were sub-underwriters was all smoke and mirrors.

Expand

Aren't they? $10m of debt owed to them has been converted to equity!

BLK Price at posting: 1.4¢ Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

The Altcoin Landscape (Part 1): Key alternative cryptocurrencies to watch

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Making money: How many microcaps should be in an investor's portfolio?

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

Aussie inflation seemingly hit a 3 year low. So why's the ASX200 red?

There are more pages in this discussion • 11 more messages in this thread...

First 20 Last

Add WMC (ASX) to my watchlist