80m in options for going guarantor.... I note the debt places the financer as the top secured creditor so this means they have first call on all MEO assets if there is a problem, hardly a massive exposure for Mr. Purcell given the line of credit is for only $2.5M USD/$3.2M.
If I understand this correctly then 80m at 2.2c = $1.76m option gift for signing as guarantor for a $3.2m loan - are you serious !!!!!!!! and then we are paying a 15% 'drug lord' interest rate.
This is a very poor deal for shareholders and this is very nice deal for Mr.Purcell. he should be doing this for the company's benefit not his own, the consideration the 'non-conflicted' members (how many and who ?) have granted here is at any existing shareholders cost.
Ann: Loan Facility, page-9
-
- There are more pages in this discussion • 15 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add MAY (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
2.4¢ |
Change
0.001(4.35%) |
Mkt cap ! $80.88M | |||
| Open | High | Low | Value | Volume |
| 2.4¢ | 2.4¢ | 2.3¢ | $68.51K | 2.960M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 338720 | 2.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.4¢ | 2244796 | 10 |
View Market Depth
| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| MAY (ASX) Chart |