short version, yes, if we were to get a loan facility with the option of converting a loan to shares, it would be in the interest of some people to keep the shares low for a VWAP if its calculted that way.
as a lender, they'd rather have the SP option at .7 instead of say .9c.
the difference in the amount of shares would be quite a bit on say a $20mill loan.
but thats if this purchase happened and who knows, a loan facility maybe wont have these conditions in it, just saying that if there is, this is what we could expect.
i wouldnt care eitehr way, the SP would just go nuts
Ann: Successful Production Testing - Killanoola-1 DW-1, page-251
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