As of June 30, 2016 Manas had just over 2 Billion shares on issue (a lot had been added through CRs in that financial year). I can't see that any more were added since then.
I note that this new agreement includes this statement:
" Cienega (or its nominees) to be issued with US$2.0 million of performance rights which will vest into fully paid ordinary shares in Manas at a deemed issue price of A$0.002 per share (as previously agreed) "
This equates to 1 Billion shares in MSR, or a 30%+ dilution for all of us.
Am I missing something? Perhaps this still is a fantastic deal (if MSR was at 0.9c would we be bothered?)
Are we all aware of this? Is this a problem?
sasa
Ann: Revised Terms Sheet for the VGP Acquisition, page-4
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