Correct me if I'm wrong - the net effect of this
- ~$3m (10% of your market cap) in transaction costs going to a large shareholder - Salter Bros
- $0.5m pa + min 20% uplift on $5m capital going to another large shareholder - Grove.
- 20% uplift on debt interest rate
- Interest of $2.6m pa turns into Interest + Rent of $2.8m pa
- Forecast breakeven point is pushed out 6 months to Jun 25
- Shareholders are diluted by 40% (more if/when options are exercised)
Well done team
Correct me if I'm wrong - the net effect of this ~$3m (10% of...
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