500 million, page-18

I think that max. no of Shares issued are to be 500m not 500m + 15%. The shares have placed 3 months after approval of the resolution.

It does not mean that they have to issue the whole 500m, depends on the demand, I suppose if they ask for 6 million dollars and there is demand for 12 or even 20million then they have decided it might be better to take it.

This will mean that the company can enter into more deals. Keeping in mind that currently have 20m they have to pay between their current projects assuming they want to drill in G.B. So even after getting 6m via Shares Placement they will have no money left.

If Kora is a flop and the shares price were to reduce to 2cps then there would be huge dilution if they ever were to issue shares again, probably thinking better get the money now. Also, this is a very risky company if Kora is a flop, meaning if they could get involved in a few other projects before the drilling began, this might reduce the risk that the Share Price crashes all the way to 2cps.

Will I do not like the dilution at all, I think better they take the money at 6.5cps rather then later at 2cps.