Placement and rights issue @0.012 with free oppie.
In conjunction with and conditional upon completion of the acquisition, CML will also raise up to approximately $4m through: 1. A non-renounceable rights issue of 11 new ordinary shares for every 20 ordinary shares held at an issue price of $0.012, with 1 new option (exercise price $0.022, expiring 3 years from issue) for every 2 new share issued. 2. Subject to shareholder approval and depending on the extent of take up under the rights issue, a placement of up to 83,333,333 new ordinary shares at an issue price of $0.012, with 1 new option (exercise price $0.022) expiring 3 years from issue) for every 2 new share issued
CML Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
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