I suppose while the transaction hasn't been voted on by AZK's shareholders yet and they can find sub-underwriters then MLX are only underwriting a capital raising by another mining company. I truly doubt MLX's company constitution would allow them to take up a holding in AZK under their underwriting agreement as AZK will have changed sectors once the vote has been past. I think there might be grounds for a concerned shareholder to question if taking up any new shares in the transformed company under this underwriting agreement is even legal under MLX's company constitution.
Legitimate question for MLX's company secretary.
Eshmun
MLX Price at posting:
$1.55 Sentiment: None Disclosure: Not Held
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