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tt2000

4,697 Posts.

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28/02/18

20:46

Post #: 31430146
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Originally posted by tt2000 ↑

From the Prospectus
"Under tranche two, Tanah Capital is entitled to subscribe for an additional minimum of 200,000,000 New Shares at a price of $0.015 each with 3 free attaching New Options for every 2 New Shares subscribed for, exercisable at 0.5 cents each expiring 21 April 2019, to raise $3 million. The New Securities to be issued under tranche two will be issued under the Offer. The effect of the second tranche subscription on control of the Company is set out in section 1.6. The second tranche subscription is subject to the Company being granted an executed notarised lease on terms acceptable to Tanah Capital (acting reasonably) for an area of no less than approximately 10 hectares on the Bolok Industrial Estate, Kupang. As at the date of this Prospectus, the executed Land Lease Agreement remains unacceptable by Tanah Capital but accepted by BB Lee Superfund. Unless either satisfied or waived by Tanah Capital by 30 June 2017, Tanah Capital will not subscribe for the second tranche"

Tanah Capital did not subscribe to shares at an effective price of $0.009 because of the status of the lease.

The Bolok Industrial Estate Land Lease is still not executed, the terms have merely been finalised.

Clearly, this lease is material.

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@img999a,

More material then us debating the cash balance projection of nil by end of March, do you have anything to add on this lease.

This is the same lease that Tanah Capital terminated their subscription agreement at $0.009 at.

You don't think GMC have a duty to disclose what exactly Tanah were made privilege that made them decide they wouldn't subscribe at $0.009 ???

Tanah Capital are market participants competing with you.

GMC Price at posting: 1.2¢ Sentiment: Sell Disclosure: Not Held
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