So basically if ECT gets another $1.2m from shareholders the broker comes in with another $2.75m
I note these precommitment ($1.58m worth) shares are to pay down debts, giving the raising a solid footing. Looking at the holdings of both Challenge and Thomson Id guess they would be subscribing for more to limit their dilution and attain a bunch of free options. Not sure why we didnt get any pre commitment from the board but im thinking its got something to do with SAIL and NLC ?
I made a few calls to ECT that were disappointingly not returned as I was seeking the clarification of these "Lenders" and how it was possible for them the receive the same discount as shareholders. Very happy to see our number one and two shareholders identified as leading the charge to make this raising a success.
This revelation has lifted my spirits.
So basically if ECT gets another $1.2m from shareholders the...
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