How can this be great? I agree with most people's responses that this is a huge dilution. Mt Kellett will own 45.3% of the company (2.88bn shares issued to them (converted at 10c, USD$225mn using exchange rate 0.78). With current share price of 5.4c (mkt cap $188.375mn), the share price after dilution is $0.03...i.e 3c.!!
How is this great??... Mt Kellett obviously knows it cant get back US$225mn in Sep2018, the conversion price was actually $0.56 last quarterly. So this 10c is the best price Mt Kellett could get.
Also, there is still US$203mn in debt with JARE.
Good luck
Ann: Trading Halt-LYC.AX, page-23
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Last
$6.11 |
Change
-0.180(2.86%) |
Mkt cap ! $5.711B | |||
| Open | High | Low | Value | Volume |
| $6.12 | $6.15 | $6.07 | $17.65M | 2.889M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 26354 | $6.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.15 | 3758 | 2 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| LYC (ASX) Chart |