The original offer 13,698,630 x $0.73 = $10 million
New offer 10,230,953 x $0.60 = $6,138,572
Plus options 12,277,143 x $0.10 = $1,227,714
Plus Mac Equity Partners options 2,500,000 x $0.00 = $0.00
Plus acceptance of over subscription = $3 million
Total = $10,366,286
There is little difference in the offer to the original offer.
I had suggested 73 cents rights plus free option exercise price 80 cents.
They now offer 60 cents rights plus 10 cents option exercise 90 cents.
Do you think someone on the board is reading HotCopper.
From what I read MacEquity Partners are getting their options free with exercise 90 cents.
I had made the comment that the directors were not smart enough to bring options into the offer. I now retract that statement.
The end result from the original offer is similar but you think you are getting a better deal.
The original offer 13,698,630 x $0.73 = $10 millionNew offer...
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