My guess is by cancelling the con note they can issue an additional 10m shares without seeking shareholder approval to so.
You'll notice with this recent cap raising that they will also take offers over what they are raising for a further 10m shares.
I believe they had offers in excess of 5 times what they were aiming to raise.
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Last
14.5¢ |
Change
0.015(11.5%) |
Mkt cap ! $30.26M | |||
| Open | High | Low | Value | Volume |
| 13.0¢ | 14.5¢ | 13.0¢ | $4.435K | 34K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8888 | 13.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.5¢ | 118807 | 4 |
View Market Depth
| Last trade - 16.10pm 20/06/2025 (20 minute delay) ? |
| MTC (ASX) Chart |