Ann: Funding Update, page-191

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Croc-file

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13/12/19

10:49

Post #: 41950141
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Originally posted by oznt ↑

The market over reacted to the announcement IMO

What has been misunderstood is that the announcement was a CONTINGECY based announcement and NOT an ACTUALITY.

The announcement, even though poorly structured, is heavily restricted as Pareto has to approve anything to do with funding, as well as the ASX having tighter restrictions on what can be said and what can not be said.

The company no doubt would have liked to have said more, but could not.

The take away message being the Pareto funding is NOT dead.

The Company will have compliant bids, non compliant bids and alternate funding proposals to review and process.

The bridge loan is an important piece of the funding puzzle as it turns into $8.75M worth of equity that compliments the final funding package.

As the bridge loan options expire on 31st Dec 2019, they need to be renegotiated and terms amended to ensure a funding gap is not left behind.

This is a pure example of the role of the board to be constantly looking and strategizing and preparing for contingencies.

Having numerous alternate funding proposals is a great problem to have if they are worthy of being assessed.

Clearly from yesterdays over reaction people have assumed the worse, and understandably from the way the announcement was worded, however having alternate funding proposals even if they are unsolicited will be reviewed and explored by Pareto and the Company and included if they have merit.

In the event we do not have 1 player taking on the full debt package of $40M USD will mean those parties that make up the package are required to all be on the same terms and that can require time to resolve.

As we have Xmas and Boxing Day in week 51 and New Years Day public holiday in week 52 it is pretty likely that not much will be able to be done during those 2 weeks.

Even though the announcement says is not expected (contingency), also means it is still possible to eventuate before the end of the year.

Patience will be rewarded : )

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Good to hear your comments on this oznt...I’m reading you are implying news could drop early before Xmas which has different elements to it than the original bond issue....Management are now moving to adjust to accommodate this and could be from one party to multiple parties involved all now on similar terms

Regards Croc

WKT Price at posting: 20.0¢ Sentiment: Buy Disclosure: Held
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Ann: Funding Update, page-191

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Ann: Funding Update, page-191

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