CLZ gets $1.3M by issuing 212M shares to LDA at effectively .00613208c per share.
Resulting in $18.7M balance to do the same whenever requested.
If ALL $20M is used then a TOTAL of 3.2B SHARES will be on issue (using above conversion rate) !!!!!!!
This isn't going to help the share price when they DUMP resulting in further dilution of value of shares being issues and the cycle repeats!
Of course if SP keeps going down then LDA get more shares and if they hang on to them they can get more control of CLZ:
https://content.allens.com.au/the-allens-handbook-on-takeovers-in-australia/shareholding-thresholds/
CLZ gets $1.3M by issuing 212M shares to LDA at effectively...
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0.1¢ |
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Mkt cap ! $3.017M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
| CLZ (ASX) Chart |
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