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28/10/15
20:22
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Originally posted by makattack
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Although the options are new the numbers of shares issued is the same - 970 million pre consolidation or 194 million post consolidation.
Not by my calculations. There are far more shares being issued than in the original proposal on 2nd September.
Resolution 8: 970mill shares and 159mill options
Resolution 9: 242mill shares and 93mill (different issue dates)
Resolution 10: 29mill shares
It states that all above resolutions, shares are issued as part of acquisition settlement ie payment to Zyber shareholders for acquisition.
Resolution 11: is CR for $6mill at equivalent of 1c pre-consolidation ie 600mill shares (previously they were going for $3mill at 2c or 150mill shares.
Resolutions 17 to 21: Issues of performance shares to directors, 200mill pre consolidation.
So all up including performance shares that may or may not eventuate, 2.293bill shares pre consolidation, or $458mill post.
Al ot of overhead in shares to get through, as I said up front, they've failed in two attempts to get this happening, let's hope it's third time lucky. Only going to happen if they start flowing the news, let's hope they're really ready to go this time.
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Yep its a rort all right. Last time i invest when directors have no skin in the game. If they'd bought some earlier when they flagged it then they might not have had to give themselves so many with relatively small hurdles to achieve.