Can’t be bothered running the numbers, but I sincerely hope that Gunn’s shares are diluted to the point he is no longer the largest shareholder. I believe that the business will have the best (albeit still very, very slim - thanks to JG) chance of surviving only if Gunn has absolutely zero influence.
Hard to tell what is really going on behind closed doors at the moment. The ASX suspension has bought them some cover.
Ann: PLACEMENT, RELAXATION OF DEBT COVENANTS & SPP, page-46
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