Is anyone worried about Caroline Fargo policy on the loan to Optimum Nano?I understand that if the AJM share price drops below 15cps Caroline Fargo could sell the 300 million AJM shares. That’s a lot of shares.
Reading this post, https://hotcopper.com.au/goto/post?id=36900005#post-36900005
I got some insights into the loan terms but what is not clear is that the 75% is equal to 15cps, is that right? It is calculated from AJM at 20 cps?
Anyways, I can see Caroline Fargo have many options, including off market transfer to safeguard their loan principle, but what if they sell on market?
Is that reflected in the share price drop on Monday, selling based on the fear that this Hong Kong firm, (I saw no connection to Wells Fargo made officially-please let me know if in error) may try to protect its principal by selling on market? It has to give 5 days notice to Optimum Nano?
Surely if so, AJM management could find a institutional buyer willing to buy those shares?
Why should AJM shareholders suffer consequences?
“The Caroline Fargo policy”
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