great deal for andrew forrest. with the shares set to go above 30c tomorrow (60c) post consolidation, if it holds there for 5 days he is in a position to acquire 17.5% of the company for doing didly squat!
whats better still is if he gets the shares to $1 (50c pre consolidation) all his options vest and if he exercises, assuming no other raisings (which there will be) he ends up with 122.5m shares out of a total of 289m or roughly 42% of the company worth roughly $300m (assuming the price stays at $1) for outlaying a grand total of $48m.
basically all he has to do is double the share price to get all his options - great deal!
will be an interesting day tomorrow! looks like a Siberia all over again!
NIA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
