SOC soco corporation ltd

clarification from company secretary, page-6

  1. 23,919 Posts.
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    Webral

    Like I said, I wasn't disputing with you I have seen some horrid deals like this from La Jolla and others, but it has been on completely different terms - i.e rolling conversions at vwap and in multiple tranches.

    This is a single tranche conversion for $1M so that is why I don't think Bergin are here to play games. If it was in say $25k or $50k conversions, then yes perhaps

    If you really comprehend this deal, the stipulations in place and the fact that they have limited stock to play with to influence the rolling vwap, then it is a great deal actually

    I think the overwhelming thing to remember is Hudson are very aggressive and aren't going to let Bergin push them around. Given the lack of free float and limited liquidity, if there is an option to buy into good news and force the price up, I imagine they will do so in an attempt to get the raise as close to 20c as possible

    IMO this raise will actually be done at a premium to today's SP once all things come out in the wash, but time will tell



 
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