I wonder why this has document not been released via the ASX? It purports to dealing with information that is material to the re-listing and recompliance efforts of the company.
Empire and L1 have chosen to take cash over shares. So ... if they agreed to shares in the first place and now want cash - the question is why? I think it is fair to conclude that they see more value in the cash over the shares - that's why they have taken the cash - yes?
And from what I read in Supplementary Prospectus 6 the dilution was noted as follows;
"Dilution to existing Shareholders upon completion of the Offers(assuming the maximum number of Shares are issued under the Offers) isnow expected to be 51.7%"
http://www.aspecthuntley.com.au/docserver/02057931.pdf?fileid=02057931&datedir=20181207&edt=MjAxOC0xMi0yMisxNDowMjowNSs0ODArNDM2NDQyK2FuZHJld3dlc3QrcmVkaXJlY3QraHR0cDovL3d3dy5hc3BlY3RodW50bGV5LmNvbS5hdS9pbWFnZXNpZ25hbC9lcnJvcnBhZ2VzL3BkZnRpbWVvdXQuaHRtbCtodHRwOi8vd3d3LmFzcGVjdGh1bnRsZXkuY29tLmF1L2ltYWdlc2lnbmFsL2Vycm9ycGFnZXMvcGRmZGVsYXllZC5qc3A=
And then in Supplementary Prospectus 8;
"dilution to existing Shareholders upon completion of the Offers(assuming the maximum number of Shares are issued under the Offers)is now expected to remain at 51.6%."
http://www.aspecthuntley.com.au/docserver/02062860.pdf?fileid=02062860&datedir=20181221&edt=MjAxOC0xMi0yMisxNDowMjowNSs0ODArNDM2NDQyK2FuZHJld3dlc3QrcmVkaXJlY3QraHR0cDovL3d3dy5hc3BlY3RodW50bGV5LmNvbS5hdS9pbWFnZXNpZ25hbC9lcnJvcnBhZ2VzL3BkZnRpbWVvdXQuaHRtbCtodHRwOi8vd3d3LmFzcGVjdGh1bnRsZXkuY29tLmF1L2ltYWdlc2lnbmFsL2Vycm9ycGFnZXMvcGRmZGVsYXllZC5qc3A=
So when they claim (as above) that these new arrangements will, "... reduce the potential future dilution of the share register" they are referring to 0.1 difference (i.e. down from 51.7 to 51.6) - yes?
And here's something to consider in relation to the $1,130,000 debt (...the Company will assume the face value of the debt owing by MCL to L1pursuant to the L1 Agreement, currently $1,130,000 (Debt)).
"The Debt is repayable in cash by 15June 2019. At this time, the amount to be repaid will be 120% of the amountoutstanding (including accrued interest, if any)."
They might want to get that debt paid quick... ish - at least before 15 June 2019.
I don't have the time today but I would strongly recommend everyone read this 'QBL Media' document and the 8th Supplementary Prospectus. Skip over the flowery stuff - it is pointless.
In the 'QBL Media' document the re-listing date is suggested as being likely to be beyond 27 December 2019.
And yet under the 'Cover Note' heading in the 'QBL Media' document the claim is that, "... we are ready for the relisting and launch of 'our' new company Cann Global"
Well ... are holders to assume that they ready, or not, to re-list?
Frankly, I find much of these latest statements and documents somewhat confusing. Will read some more.
How are others seeing it?
