I am now of the belief that this is a "Fait accompli" after going over todays announcement. What I gleaned is the following:- Monash will be trying their hardest to get the $4 million to ECT by next Thursday
- Failing that, they have promised to purchase the same number of shares but roughly at market price
Either way, ECT will get at least $4 million or possibly $6 million. I don't think these types of announcements are made lightly considering the strict rules ASIC and ASX impose on companies for making false or misleading announcements.
So I'm happier now than what I was yesterday. Today's announcement could have said "sorry but the deal is off". Well it didn't and there is a plan B in there as well. All parties seem committed to me.
ect funding, page-20
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Last
0.3¢ |
Change
-0.001(25.0%) |
Mkt cap ! $9.515M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.3¢ | $297 | 79.57K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 55 | 17643627 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 14484105 | 27 |
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| Last trade - 15.59pm 19/07/2024 (20 minute delay) ? |
| ECT (ASX) Chart |