the ex shareholders you are talking about voted in a resolution in february which allows these guys to raise another $1.5m before the 18th of may 2016, at 80% of the vwap which could be much lower than the 8c a share its at now.
don't be surprised if you wake up Monday morning and this is in a trading halt. Im not saying its going to happen but its possible. not trying to scare anyone but just be aware of what could happen.
"Resolution 1 seeks Shareholder approval for the issue of that number of Shares, when multiplied by the issue price, will raise up to $2,000,000 (before costs) (Placement).
ASX Listing Rule 7.1 provides that a company must not, subject to specified exceptions, issue or agree to issue more equity securities during any 12 month period than that amount which represents 15% of the number of fully paid ordinary securities on issue at the commencement of that 12 month period.
The effect of Resolution 1 will be to allow the Company to issue the Shares under the Placement during the period of 3 months after the Meeting (or a longer period, if allowed by ASX)."
CMY Price at posting:
0.8¢ Sentiment: Sell Disclosure: Not Held
