I am more concerned with the recent proposal for a 10% issue of additional shares for "working capital" or "non-cash consideration for services, equipment or product".
This indicates to me that there is a cash flow problem. Maybe this is also related to slowing sales in PCs.
(c) Purpose of issue under 10% Placement Capacity The Company may seek to issue Equity Securities under the 10% Placement Capacity for the following purposes: (i) as cash consideration in which case the Company intends to use funds raised for working capital purposes or potential acquisitions; or (ii) as non-cash consideration for services, equipment or product. In such circumstances the Company will provide a valuation of the non-cash consideration as required by Listing Rule 7.1A.3. The minimum issue price limitation as set out in Listing Rule 7.1A .3 applies to issues for non-cash consideration.
DDR Price at posting:
90.0¢ Sentiment: Hold Disclosure: Held
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