This capital raise will bring Ecopro’s share holding to below 15%. As they have a board appointee arising from an agreement (not made public), would be interesting to know if the wording is only based on an agreed downstream JV path/timeframe and the initial 6.8M investment, or it also includes a shareholding thresh-hold i.e 15% which is commonly the case.
If so, Ecopro will need to participate in this raise to keep their board seat.
I think this is what posters are eluding to in Ecopro taking on more shares.
Ann: Trading Halt, page-120
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