Exactly mate. I am not sure why any holder would be happy with this despite EXIM outcome? The two are mutually exclusive.
We are talking about 70m shares handed out to (probably) insiders who took absolutely zero risk leading into the EXIM outcome but reap all the benefits! 70m shares. Seventy MILLION. FMD.
Happy to be proven wrong once we hear details of the raise but fmd I am genuinely filthy. Have been so happy with MJ up until now but c'mon if you take risk you deserve reward. In no universe should it work the other way.
The only way this passes the sniff test is if the shares go to those that helped get us EXIM preliminary approval. They are mentioned in the document. I will bet exisiting holders get SFA.
70m shares. Jesus. Livid
Ann: Preliminary Approval for up to US$657m in Funding from EXIM, page-116
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