A $10mn placement to Drake would represent 14.5% of the company - I don't believe this is possible given the 20% threshold. There is a 3% provision for every 6 months, which would equate to a circa $2mn placement. I'm potentially missing something here? Happy to be corrected.
Nonetheless, I'm leaning towards Drake's camp. My ability to trust current management is rapidly fading...
EGM imbroglio and probable placement, page-3
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Last
50.5¢ |
Change
-0.025(4.72%) |
Mkt cap ! $69.36M | |||
| Open | High | Low | Value | Volume |
| 50.0¢ | 50.5¢ | 49.0¢ | $142.8K | 285.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 29 | 50.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 51.0¢ | 18814 | 1 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| SMN (ASX) Chart |