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clock Created with Sketch. 04/09/18
22:22
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Originally posted by king louie
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Where does it actually say the placement is FULLY underwritten? And what's with the "FIRM COMMITMENTS' (and why is commitments ... plural if it's "a (one) sophisticated investor'. Firm commitment isn't a commitment? ....feels like this announcement went to market before they finished negotiating? PC you will need to explain yourself. Is $4m guaranteed out of this exercise? SDM (More like STD) is only underwriting a further $0.34m....who's underwriting the rest???? The Offer follows a Strategic Placement led by Shandong Tianye Mining (STM), Triton's cornerstone investor, who agreed to subscribe for 14 million fully paid ordinary shares in the Company (Shares) at an issue price of $0.047 per share to raise approximately $0.66m. In addition, Triton has also received firm commitments for a further 10.6 million shares at $0.047 per share to a sophisticated investor on the same terms as those to STM to raise a further $0.5m. The Placements are being undertaken pursuant to Triton’s issuance capacity under ASX Listing Rule 7.1.
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King Lou aren't you a significant holder? High wealth individual. Why wouldn't you participate to maintain your level of holdings?
