If for whatever reason the drawdown is not concluded alternative financing arrangements are being negotiated, including an underwritten option rights issue and upon finalisation, they will form the basis of a request to ASX for resumption of trading in the Company’s shares. The market and shareholders will be appraised as soon as the final transaction arrangements are concluded.
It seems like the good will from AMED to loan this 4.5 mill is a done deal as far as they are concerned.
SO the only way it can fail in my mind is if Generoa dirctors cant agree to approve it. In which case its probably tied to the bigger picture deal and we know some directors have a problem with the deal.
So the fall back position is a rights issue becasue they are desperate for money in order to relist solvent.
It mentions that this will be underwritten so this must have been dicsussed so whos undrwriting this issue the only entity that makes sense would be AMED. Which if it is, I would presume its probably not connected to the bigger deal thats being negotiated. But if it is AMED it shows that there still in, so they take a stake and continue negotiating.
IS this the way others are understanding this.
LWR
NKP Price at posting:
7.9¢ Sentiment: Hold Disclosure: Held