'A $3 million loan is 10% of the company value. A couple more of those and he's up to 50-60% of the company'
There is still one year to convert the loan into equity. If the share price doubles, 3 million will be 5% of the market cap. The MD wants to have a higher ownership, so the company won't be a hostile takeover and he would have a higher bargaining power IMO
Looking at the changes in his position:
He spent $300k converting his 20c options
He spent $2,030,000 buying shares at 16.5c.
He uses every opportunity to increase his holding. He may even start buying on market again?
'A $3 million loan is 10% of the company value. A couple more of...
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Last
6.7¢ |
Change
0.000(0.00%) |
Mkt cap ! $26.32M | |||
| Open | High | Low | Value | Volume |
| 6.8¢ | 6.9¢ | 6.6¢ | $87.50K | 1.311M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 546500 | 6.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.9¢ | 62262 | 1 |
View Market Depth
| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
6.6¢ |
Change
0.000 ( 3.23 %) |
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| Open | High | Low | Volume | ||
| 6.8¢ | 6.9¢ | 6.6¢ | 688956 | ||
| Last updated 15.58pm 24/05/2024 ? | |||||
| EM2 (ASX) Chart |