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ICG inca minerals limited

12.5%

1.4¢

Ann: NOTICE OF EXPIRY OF ICGOA OPTIONS, page-5

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allens

3,992 Posts.

1614

04/10/22

16:54

Post #: 64023979
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Originally posted by The Mule ↑

Mmmmm. Not happy, i took the gamble and it didnt pay off. My fault, cant blame anyone but me. But i was lead to believed that we would have a lot more drill results. If the cores we exceptional we would have paid for priority assay results. CPM i only ien a few but got assay results in weeks. Paid for priority assays,ICGOA was a priority. They needed to be exercised, we needed the cash to drill. Going to be hard to stretch this out to the OCs without money to drill. Without money to drill OCs dont have a chance to get anywhere near the exercised price.
Im sure plans are in place, but this is a problem needing to be addressed asap.
The Mule

The option exercise price is $0.14 each and expires on 31 October 2022. There is no obligation to
exercise these options. The courses available are;
a) Exercise the options by completing the attached Notice of Exercise of Options Form. This
would be after considering the exercise price of $0.14 and current market price.
b) Sell your options, however trading will cease four business days before expiry being 26 October
2022; or
c) Do nothing and allow the options to expire.
The Company provides the following information in accordance with the ASX Listing Rule Appendix 6A
5.2(b) to (i) inclusive, with the Listing Rules;
• The number of options to which this notice applies is 46,636,077
• On exercise, each option entitles the holder to receive one fully paid ordinary share in ICG. If all
options were exercised 46,636,077 shares would be issued
• The exercise price of each option is $0.14
• The due date for payment of the exercise price is 5pm (WST) on 31 October 2022.
• If payment is not received by 5pm (WST) 31 October 3022, the options will lapse and all rights
under the options will cease.
• Official quotation of the options will cease on 26 October 2022.
• The market price of fully paid ordinary shares in the Company on 30 September 2022 (being
the last trading day prior to the date of this notice) was $0.041.
• During the six months immediately preceding the date of this announcement, the highest
market price of fully paid ordinary shares in the Company was in March 2022 at $0.15 and
lowest of $0.034 on 20 September 2022.
• No underwriting agreement exists in respect of the options.

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Mule & others.

This is not a good decision and does nothing for existing share holders and their years of loyalty to INCA.
An AGM is due and explanations as to why these could not be deferred as others have said they could be revisited in another format.
I when purchasing the Capital Raise at the time of the CR brought them and viewed the options attachment as a plus and fully subscribed with more due this, but now to have the board totally cease the option with out any consideration to existing share holders is blatant punch in the face for long term holders.

Please as holders of Option A all write to INCA and state we are not happy with the outcome and blatant dis regard for long term holders that raised the funds and were awarded incentive shares only to have them pulled with out seeking other alternatives to this like deferring them.

Any Comments Please.

Allens.

ICG Price at posting: 4.1¢ Sentiment: Hold Disclosure: Held
8 Upvote

1 Great analysis

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