Octagonal currently has 13% share holding. The current proposal is for that to roughly double for $5 million. That would imply a valuation similar to the original con note.
If the valuation is right then I see no reason why we should evict Rogers. How many CEO's out there don't draw a salary for 3 years... The language in this announcement is pretty loose however if capital isn't raised at a stupid discount then this is a much much better outcome then what I was expecting.
Keen to hear others thoughts.
CTL Price at posting:
0.9¢ Sentiment: None Disclosure: Held
