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"Chuk I believe you participated in the placement, did they tell...

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chuk

14,015 Posts.

4039

13/04/24

14:51

Post #: 73329608
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Originally posted by Red Baron: ↑

I'd have thought the attaching option was part of the deal with the cap raise. These investors would be expecting their free option, a bit like buying a holiday package - they give you the airfare but say bad luck about the accommodation - you'd want your money back.

The company can issue 15% without shareholder approval, last AGM shareholders gave them approval to issue a further 10%, 25% in total.
$6m @ 7c = 85.7m shares + 85.7m options
25% of 791m SOI = 197.7m
So they are well within their limits, so I'm not sure why they need shareholder approval?
Possibly because the options are in the money? (ie below last traded price)
I'm not totally up to speed with asx rules, too lazy to look it up.

Chuk I believe you participated in the placement, did they tell you before you signed up the option issue was subject to shareholder approval? By that I mean on the contract you signed, not the Dear Investor letter.

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"Chuk I believe you participated in the placement, did they tell you before you signed up the option issue was subject to shareholder approval? "

Yes, that was made clear.

MNB Price at posting: 9.2¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 7.1¢		Change -0.001(1.39%)		Mkt cap ! $62.38M

Open	High	Low	Value	Volume
7.2¢	7.3¢	7.0¢	$45.91K	639.4K

Buyers (Bids)

No.	Vol.	Price($)
1	4900	7.1¢

Sellers (Offers)

Price($)	Vol.	No.
7.2¢	195893	2

View Market Depth

No.	Vol.	Price($)
1	4900	0.071
2	130785	0.070
3	109000	0.069
2	36457	0.068
1	20000	0.066

Price($)	Vol.	No.
0.072	195893	2
0.073	327281	2
0.074	140772	2
0.075	250000	1
0.077	84341	2

Last trade - 15.39pm 19/08/2024 (20 minute delay)

MNB (ASX) Chart