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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Last
5.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $14.87M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 26781 | 5.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.4¢ | 34816 | 3 |
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| Last trade - 16.21pm 04/07/2025 (20 minute delay) ? |
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