It's a significant premium for some of the deal, compared to the Reference Share price of c. 15c. The premium may not be a premium as soon as the shares open for trade tomorrow, or once the project is progressed to the DFS level. eg, if the share price goes to 50c, a 35% premium on 15c (20c) is a discount to the 50c price.
So, it's obvious that this is in effect a gradual takeover. The company should put this to the share holders for a vote on that basis.
Ann: Havilah Secures Funding of up to $100M from GFG Alliance, page-9
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| Open | High | Low | Value | Volume |
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| Price($) | Vol. | No. |
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