Ann: Presentation, page-28

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ronstieb

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26/03/20

13:32

Post #: 43711549
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Originally posted by akap: ↑

Yes the number of shares Molton will hold at the end is a blatent give away that Moltons about to Take Over (could sort out a finance issue in one blow also).

Its very unlikely any retail holders will take it up.

This may allow them to keep their job and avoid Perrenials wrath at the same time.

All I hope from the BOD now is that the board understand that all investors are mostly underwater at about 5c , so i hope they have the moral compass to ensure the remaining 50% that Molton doesn't own will be sold around this or higher via TO offer.

Its the right thing to do, whether they do it will yet to be seen. I suspect regarding the take up there was a note that suggested each percentage outcome with the underwrtting had a consequence .... so I suspect that a deal may be in position and whatever the end % is held by Molton will determine the offer (ie. less we take up the higher the offer).

If this is the case it may be better to buy on market rather than the 1 for 1 entitlement if you were choosing to purchase more.

Just my gut feel, I cant see any other reason why they would raise this heavy or direct the Isubscription pretty much all to Molton.

Even in respect to the covenants I doubt we would of needed 17mil! (could be killing two birds w one stone though)

DYOR

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Yeah, there's two parts to this story imo
Shoring up the balance sheet to handle further potential hits either operationally or from macro events,
as well as a strategic move against Perrenial and co.
The second part (Perrenial) might become clearer if/when we hear from them. Not sure what to expect on that front. They might've already accepted defeat ?

OEL Price at posting: 0.8¢ Sentiment: Hold Disclosure: Held
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Ann: Presentation, page-28

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