Cheers Toph...... missed that..
According to the motion on April 16 the shares were to be issued at 80% of the previous five days trading price
VWAP x 0.8 (IMHO $1.1) x 0.8 = 88 cents
$30M x 1.1 shares (at 88c) =33M new shares = Placement which are ? going to clients of Haywood & Argonaut ?..
Plus ?? shares via SPP.......
Yeah... this aint too clear... looks rushed..
PS.. what does the brokered and non-brokered basis mean ?? That banners has lined up buyers for a line of the 33 Mill new shares themselves (?RCF)= non-brokered and the rest (brokered) the sharks can get their %ages on.
bannerman announces proposed equity financing, page-17
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$1.98 |
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Mkt cap ! $353.6M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 499 | $1.98 |
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| Price($) | Vol. | No. |
|---|---|---|
| $2.00 | 15350 | 2 |
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