But they have to covert the CN's to shares first and we are told the there are "strict limitations" on when they can convert. Don't know what they are, but apparently they are "strict"!!?
Don't forget the $1.5M is actually $1.78M.
Will be interesting to see what the face (real) value of the next trance will be on 3rd June. I am guessing Bergan's next $0.5M USD will get them between $0.575 & $0.59M USD in face value.
If the share price stays where it is the conversion on the next trance will be around $0.07 AUD or 92% of the 5day VWAP prior to conversion if that is lower.
Let's make them pay and push the price up at least 20 days before 3rd June!!!
Only shares they have at the moment (unless they have been buying) are the 4,649,156 commencement shares and not sure if they have "strict limitations" on them. (I suspect not).
DYOR, IMHO
ADO Price at posting:
5.1¢ Sentiment: None Disclosure: Held
