Its written on a deferred settlement basis. So I think they are using their 15% placement rules to allocate the shares so that they don't need to go to an ASX shareholder approval. This means that any further share issues would be secondary to this allocation.
By doing it this way, they can trigger the conversion at anytime without risk of having to wait for a shareholder approval. This means the lender may believe their is a probability that positive news may come before the maturity date (ie 12 months).
Lets see what happens.
Its written on a deferred settlement basis. So I think they are...
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Last
10.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $11.78M | |||
| Open | High | Low | Value | Volume |
| 11.0¢ | 11.0¢ | 10.0¢ | $5.299K | 48.75K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 235651 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.0¢ | 291058 | 13 |
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| Last trade - 10.20am 25/07/2025 (20 minute delay) ? |
| VML (ASX) Chart |