No. " Placement to raise A$11 M via the issue of 176 M new ordinary shares at $0.0625 per share (with three attaching premium priced options per four shares) " My understanding of this is that there is another 125~M options added on on top of the 176M.
"exercisable at $0.081 at any time on or before four (4) years from the date of issue"
For eligible shareholders, we essentially are given 10% of our holdings for free as options, but we have to pay 0.045 to exercise them before Feb 2022. So as long as the SP is above 0.045, that is an instant profit for exercising them i.e. paying 0.045 to the company to convert the option to a ordinary share.
Still probably didn't need to raise?? But I guess they want to secure the funds just in case the market tanks. Did look out for us retailers which is not bad.
AGE Price at posting:
6.8¢ Sentiment: Hold Disclosure: Held
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