With this move Macquarie Bank will now be the biggest Shareholder of EEG:
"The Directors wish to announce that the Company has been notified that Macquarie Bank Limited will exercise 6,666,667 options at $0.12 and a further 6,666,667 options at $0.135 (“Options”) on or before the maturity date, December 22, 2011. The exercise of the Options will raise a total of $1,700,000.
The Company will utilise the funds raised through the exercise of the Options to reduce existing debt.
Macquarie Bank Limited will increase its shareholding in the Company from 9.74% to 13.84%."
This appears to be a "Claytons" subtle strategic takeover of EEG.
Ann: Exercise of Options , page-2
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