MAY only need 30.5% of MEL votes as already have M&A Advisory on board.
If Beehive is a goer then they will easily get MEL approval in my opinion.
Fortunately, MAY top 20 only hold 29% of the company so retail shareholders have real power to prevent this should they want to.
Beehive is a 388 million boe prospect that MAY consider to be oil. It's in shallow water near infrastructure & MAY have a free carried 20%. Unrisked valuation is a massive 28 cents per share.
A potential company making prospect that MAY have held for years, successfully brought in TOTAL and STO to do the 3D seismic and on the eve of a confirmed drill they now want to dilute it by issuing over 1.5 billion shares to MEL.
Unbelievable!
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MAY only need 30.5% of MEL votes as already have M&A Advisory on...
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Last
3.2¢ |
Change
0.002(6.67%) |
Mkt cap ! $107.8M | |||
| Open | High | Low | Value | Volume |
| 3.1¢ | 3.3¢ | 3.0¢ | $90.72K | 2.927M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 1456582 | 3.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.2¢ | 1279469 | 5 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| MAY (ASX) Chart |