Yeh that was my understanding too. Per page 53 of the FY report the warrants are escrowed until 12 Nov 16 and have a tenure until 12 Nov 19.
If IMD choose to cash settle then they need to fund this with more borrowing. The business isn’t generating enough free cash flow to pay this down with organic earnings.
The thing that confuses me is for IMD to cash settle these warrants there are only three ways –earnings, more equity, more debt. If the company is generating earnings then wouldn’t the share price naturally rise as a result making these warrants more expensive?
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Last
$3.02 |
Change
0.090(3.07%) |
Mkt cap ! $1.545B | |||
| Open | High | Low | Value | Volume |
| $2.92 | $3.05 | $2.89 | $3.032M | 1.010M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3466 | $3.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.05 | 800 | 1 |
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| Last trade - 16.10pm 30/07/2025 (20 minute delay) ? |
| IMD (ASX) Chart |