re: Ann: Update - Merger of PLA with Jubilee ...
Andrey, you're not alone: I got caught by it too.
The agreement is that 2.6 PLA shares will be swapped for 1 (one) Jubilee share.
The latest amendment to the Deed of arrangement will provide 2 lots of 2.6 PLA shares to one new ASX listed Jubilee share. An ASX listed Jubilee share will be worth twice that of an ordinary Jubilee share.
The complication is to ensure that when Jubilee lists on the ASX (Which is to our advantage) its shares will be worth more than 20 cents (The minimum share price allowed for a new float on the ASX).
We actually end up with a value of the new shares being 2x two thirds of the PLA price at de listing.
That is we'll get back 2/3 of what we thought we'd lost.
However if the Jubilee share price goes up we too will be better off.
PLA Price at posting:
6.7¢ Sentiment: Hold Disclosure: Held
