Bligh Capital (“Bligh”) was responsible for procuring the Offer from MBL and has been engaged to secure the requisite equity component. Bligh has advised that it has engaged with several parties who have indicated a desire to provide all or part of the planned US$15 million equity.
The Company expects the equity issue to be made at a
premium
to the closing price of IDM shares on ASX prior to the most recent request for a trading halt
and conditional upon the irrevocable commitment for a minimum of US$30 million debt facility.
IDM Price at posting:
14.5¢ Sentiment: None Disclosure: Held
