MEL: $4m of options on a $5m deal, with 25% premium
VEN: $10m of options on a $10m deal, with ~70% premium.
MEL have effectively traded a lower interest rate for lower strike price. 11/8.5% two years ago is easily 14/11.5% now. MEL has a 10% rate.
I'm not saying that I love it, but I don't think the directors could have done a much better job. Any lender would be looking at the balance sheet to price their deal...MEL were vulnerable and got a relatively comparable deal.
Ann: $5m debt facility secured to deliver Odin gas to market, page-42
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0.4¢ |
Change
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Mkt cap ! $5.790M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.4¢ | $10.11K | 2.527M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 11541399 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 4483831 | 5 |
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| MEL (ASX) Chart |