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Ann: Convertible loan and Winchester investor not related-KOR.AX, page-3

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aburbe

1,400 Posts.

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29/06/16

14:07

Post #: 18151160
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Originally posted by ainsleym ↑

As I postulated and posted a while back, an issuance of shares at 2.3c towards repaying the loan that was due on 24 June.
So the 2 questions that still remain are
1. The placement still only accounts for around 50% of the loan that was due. One must therefore surmise that the other 50% has been paid in cash, otherwise a larger placement would have been done to pay-off the loan . Question is.... if so, where has the $ come from to do this ( Mr Wang's installment payment perhaps ??)
2. How much is Wang's installment. Presume we have to wait for an Appendix 3 B to work that one out. I don't know the time lag that the ASX will permit before a 3B has to be issued

So anyway, now we have an entity who has just got over 5 million shares at 2.3c. Interesting to see what happens with those, will they be unloaded onto the market? Or a strategic investor ( Chinese) perhaps take them.

Not buying back in yet, want to see how this unfolds

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Indeed, more questions that answers (usual KOR), I still doubt that Mr Wang is paying a 60% premium on the current SP and a 117% premium on the last issue; wait and see is the reasonable strategy with this one.

KOR Price at posting: 3.0¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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