Shareholders who were hoping an experienced steel maker (big or small) would be announced as a major investor or project partner (and thereby confirm the merits of KFE's project) will be disappointed by yesterday's announcement. With the feasibility study ready to go it was a major opportunity to bring in real technical and financial horsepower.
I agree with bubsmark's comment about funding being secured. Only the first $2.14m is locked in with the second $2.14m subject to a low price get-out clause and the final $2.5m subject to mutual consent. Depending on how you read the announcement, if the share price collapses prior to an allotment, KFE may be forced to repay the first $2.14m (or subsequent advances) with a premium. It seems like a deal weighted in favour of the investor. But some cash is better than no cash.
If the share price stays well above the 1.8c issue price of the non-renounceable rights issue, perhaps a substantial proportion of the $3.8m target will be raised from existing shareholders. If the share price sags, how many shareholders will take up their rights?
So, of the "UP TO $10.3 MILLION" announced by the board yesterday, how much will actually make it to KFE's bank account?
- Forums
- ASX - By Stock
- M4M
- Ann: Capital Raising of up to $10.3 million
Ann: Capital Raising of up to $10.3 million, page-24
-
-
- There are more pages in this discussion • 9 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add M4M (ASX) to my watchlist
|
|||||
Last
1.8¢ |
Change
0.000(0.00%) |
Mkt cap ! $65.21M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 300000 | 1.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.7¢ | 234417 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 300000 | 0.019 |
7 | 601561 | 0.018 |
6 | 323058 | 0.017 |
2 | 229299 | 0.016 |
5 | 308333 | 0.015 |
Price($) | Vol. | No. |
---|---|---|
0.017 | 196913 | 1 |
0.018 | 1235000 | 3 |
0.019 | 5141978 | 2 |
0.020 | 345000 | 2 |
0.021 | 510000 | 2 |
Last trade - 09.58am 11/09/2024 (20 minute delay) ? |
Featured News
M4M (ASX) Chart |
Day chart unavailable