Sorry to take so long to answer your question, but I just needed to check some details with the proposed AGM. The shares to be allocated are as follows:
The director's shares - 13,000,000 Incentive Shares A - 6,500,000@Usd$100,000,000 Aud$144,323,566 Incentive Shares B -19,500,000@Usd$150,000,000 Aud$216,509,096 Incentive Shares C -26,000,000@Usd$200,000,000 Aud$288,678,794 Incentive Shares D - 29,166,610@Usd$250,000,000 Aud$360,848,493 Total Incentive Performance Shares - 81,166,610
We also have to vote on the Key Management Personnel (KMP) distribution of 55,833,330 shares. The shares to be distributed do not include other shares such as: a. Resolution 21 Approval of 10% Placement SOI 663,786,555 - 64,000,000 b. Resolution 20 Placement to Potential Investors upto Aud$15,000,000 - 300,000,000 c. Resolution 19 Approval of the replacement of Loan from Dr G of 47,060,527 shares
GMV will be raining down shares with approximately 545,000,000 new shares coming onboard. The dilution to our SP for LTH's is going to be difficult to stomach. I will be sending Dr G another email to voice my protest for all these potential future shares.
I understand that some companies need extra time for starting up, but I think this is greedy by management. If we could see what the future holds for GMV, maybe we would think differently and be more positively.
DYOR GLTAH
Cheers Rubes
GMV Price at posting:
4.8¢ Sentiment: Hold Disclosure: Held
