Share Issue Update ReelTime Media Limited (RMA) lodged an Appendix 3B on 17th September 2007 regarding an issue of 17,000,000 ordinary fully paid shares and 34,000,000 options in RMA to Sony Pictures Television Pty Ltd. The share and options issue was approved by shareholders at an EGM held by the Company on 17th September 2007. Sony Pictures Share Issue The Company now requests that the Appendix 3B be disregarded as, whilst approval was given by shareholders, other conditions precedent are required to be satisfied before the shares can be issued. The shares and options are to be issued at a future date once the conditions precedent has been satisfied. Clarification regarding Maylord Equity Management (Maylord) The conditions precedent with regards to Maylord Equity Management Pty Ltd have, in the company’s opinion, now all been met. However, the unsecured note is to be converted at either Maylord’s option before 28 th June 2008 or under mandatory conversion by the Company on 30th June 2008. No coupon is applicable to the Maylord unsecured convertible note, so no interest payments accrue under the terms, as previously advised in the Supplementary Disclosure Document. No penalties are applicable for non-conversion of the note by either Party. Shares on Issue as at Today Date The Company has on issue 293,061,404 shares as of today’s date. Sony Pictures Pty Ltd share allocation (once allocated) is 17million shares plus 17million associated options at 2.5c, 8.5million options at 6.5 cents and 8.5million options at 10 cents. Maylord share allocation (once allocated) is 40million shares, without options. Ends******
So in effect no body converted? What did they see when they looked inside that the other shareholders are not privy to?
RMA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
