Just to add to the above - this was my take on the announcement of the split I posted on 12th April
My take is as follows..;The new company = iTech Minerals
Archer will receive 50m shares
Current shares on issue approx. 225M (excluding any outstanding company options)
50m / 225m = .22 shares in iTech for every share held by current AXE holders.
Company to raise $5m @20 cents = 25m new shares + 50m shares to existing AXE holders
= 75M shares at listing price of 20 cents gives iTech a listing value of $15million with $5m in the kitty less fees etc.
That’s a good outcome in my opinion.
And of course, I stand to be correct on any of the above…
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