Well voting against them has now created a future risk for the company in that they will probably not be able to offer options any more, or at least not with a shareholder vote, - so the share price will have to be further discounted in an offer. Whether the option issuance ends up better or worse for existing shareholders depends on what the future unravels, and is unknown at the time when capital raisings are done. Maybe the future will pan out well and they will not need to raise capital again - who knows?
I wouldn't have taken that placement without the options. It was being carried out just before results were out, rather than just after. This was a high risk time to take them up. At that time I might have roughly calculated the options were worth about 0.2c, so in that case there would have been 10% extra dilution up front. But I wouldn't have taken the deal up at all tbh without them, even at 1.8c, as the options offer a reduction in downside risk, with an upside from future performance of a stock that at that stage was a total dog with fleas!
Just saying!
AGH Price at posting:
3.6¢ Sentiment: Hold Disclosure: Held
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