Eer,
That clause is standard and is in all convertible note subscription deeds. It protects QVT from TZ doing anything naughty - like issuing lots of shares cheaply elsewhere. I'm sure QVT's lawyers would have insisted on it.
MM and co have been insisting that a low price capital raising is coming imminently - 30c.
Now that QVT has taken notes at 42c, how would it look if TZ issues shares imminently at below 42c thereby allowing these notes to be repriced down? - and all BEFORE these huge deals that they say that they are doing?
The answer is - not very good at all. Cannot be justified.
How would it look if TZ issues share at below 42c AFTER such deals?
The answer is - not very good at all. Cannot be justified.
A true cynic might say that QVT did not want the share price to rise until (a) they were sure that a major deal was on the cards, and (b) they received 42c convertible notes. Such a cynic would now think that the path is now clear for TZ.
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TZL
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4.8¢

Ann: ASX Announcement - SIV Notes , page-4
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Last
4.8¢ |
Change
-0.003(5.88%) |
Mkt cap ! $13.46M |
Open | High | Low | Value | Volume |
5.0¢ | 5.0¢ | 4.8¢ | $8.033K | 166.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 100000 | 4.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.5¢ | 174744 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 100000 | 0.045 |
1 | 100000 | 0.040 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.055 | 174744 | 3 |
0.060 | 15000 | 1 |
0.063 | 20000 | 1 |
0.064 | 50055 | 1 |
0.076 | 50000 | 1 |
Last trade - 11.27am 25/07/2025 (20 minute delay) ? |
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