If you think the shareprice today looks bad; just wait until 27,000 shareholders realise how bad this deal is.
The conversion price for these con notes is the highest it will ever be.
If in 6 months, the share price is 3.5c - the conversion price will be lowered to 90% of 3.5c (3.15c).
If in 12 months the share price is 3c - the conversion price will be lowered to 90% of 3c (2.7c).
However, If in 12 months, the share price is 10c - the conversion price will not be adjusted, as the 'prevailing conversion price' is lower than 90% of the 'current market price'.
This deal shafts retail in favour of these vulture capitalists. And Alcp reckons it's a good CR!?
IMU Price at posting:
3.9¢ Sentiment: Sell Disclosure: Not Held
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