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7.02%

5.3¢ albion resources limited

Ann: Loyalty Options Prospectus, page-18

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mattjread

264 Posts.

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13/08/21

18:57

Post #: 55277585
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Originally posted by curiouswon: ↑

Have a look at the wording:
"the Albion Board retains the right to place any Shortfall to any person at their absolute discretion within 3 months after the closing date of the Entitlement Offer, at the same issue price of $0.001 (0.1 cents) per option."

Now do you understand a different purpose of this options issue - not to reward 3 months worth of loyalty - but to create an opportunity to issue millions of "Shortfall" options to insiders at a minuscule 0.1cents (compared to fair value of maybe 5-7 cents). There is no need at all to have this ability to issue "Shortfall" options - just issuing the loyalty ones is enough to reward 3 months loyalty.

I had been considering investing in this company, but this action leads me to question whether the Board and management would be always acting in the interests of all shareholders (always a key criterion for me in a new investment).

All IMO, and happy to hear views on this.

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Even Stevie Wonder could see that this is pretty standard, makes sense, and isn't an issue if everyone takes up their entitlement.

And if they don't take up their entitlements, they should really stop investing.

ALB Price at posting: 20.0¢ Sentiment: Buy Disclosure: Held
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Last 5.3¢		Change -0.004(7.02%)		Mkt cap ! $3.459M

Open	High	Low	Value	Volume
5.3¢	5.3¢	5.3¢	$500	9.433K

Buyers (Bids)

No.	Vol.	Price($)
1	9803	5.1¢

Sellers (Offers)

Price($)	Vol.	No.
5.4¢	85000	1

View Market Depth

No.	Vol.	Price($)
1	9803	0.051
1	379817	0.050
1	200000	0.040
1	38499	0.026
0	0	0.000

Price($)	Vol.	No.
0.054	85000	1
0.057	20000	1
0.059	120000	1
0.065	26667	1
0.077	24875	1

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