Let me try to wrap my head around this announcement. If they are limited to 19.9% then assuming the LOI goes ahead what is the maximum amount of the funding.
Lets say that the market cap stays where it is right now - about $150 mill - 20% of that is $30 mill. Anymore and they will go over the agreed threshold.
Its an odd agreement indeed. Why agree to buy at a future share price with a floor of 50c and no ceiling? And why call it $100 mill when the market cap would have to be more than triple what it is today to allow that to happen?
Anyway typical ASX ann. I guess- more holes than Swiss cheese. Good luck to holders and traders.
TON Price at posting:
44.5¢ Sentiment: None Disclosure: Not Held
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