bingo - m bank and a premium, page-12

Just re reading the announcement, and this is how I understand it.

M Bank - offer IDM 30 Mill US. On the proviso a further $15 mill is injected by IDM or other parties.

IDM - have interest from other parties to provide the $15 mill in addittion to Macquaries.

This 15 Mill im guessing must be in the form of an issue of new shares in return for the new capital BUT at a premium to last trading price before entering trading halt.

If this is the way it is played out, then I think IDM are in a very strong position, and have secured every cent of the 45 mill they were chasing.

Well done Board!