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70.0¢ mallee resources limited

So if shares are issued instead of the tied up cash in Myanmar,...

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Trufflehunter

3,630 Posts.

347

19/04/22

14:34

Post #: 60913576
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Originally posted by aubin: ↑

MYL 11.3.22:

"Hartree will receive:

$38.6million in satisfaction of a claim under a previous offtake agreement for the Project, which will be satisfied through entry into a new offtake agreement with MYL and an issue of shares to Hartree.

To be satisfied by the issuance 30% of the fully diluted shares on issue of MYL shares post the transaction completing.
Shares are issued at $0.42 per share.
The number of shares to be issued may be adjusted and supplemented with cash in the event that MYL is unable to repatriate $12 million of funds from Myanmar on the date that is one month after the date the MYL shares are issued, subject to completion of the DOCA having occurred, such that the cash backing of the MYL shares held by Hartree is equal to the cash backing that would have been held if all funds were repatriated from Myanmar."

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So if shares are issued instead of the tied up cash in Myanmar, then do we expect a USD ~$12 Million on-market buyback when the funds are released eventually?
MYL Price at posting: 70.0¢ Sentiment: None Disclosure: Held
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