MOD 0.00% 43.5¢ mod resources limited

has anybody read the notice of meeting for mod

  1. 30 Posts.
    Its an interesting notice of meeting this one, a few observations:

    Shareholders are being asked to approve the acquisition of Amphion which has no assets other than $160k of cash, now if you take the consideration of 37.6 m shares and divide it into the $160k cash thats $0.004c per share, compared to current market of 14.5c. A pretty good deal if you can get it.

    The placement at 3.5c is a big discount to current market, but maybe not so bad at the time the announcement was made, so ok.

    There are director incentive options proposed for Mr Drummond and Mr Kennedy, i am generally in favor of director incentives however the NoM does not state the exercise price, the term, any conditions or performance hurdles that apply, nor is there a valuation of the benefit that you normally see.

    IMO, its a pretty poor level of information provided and I hope not indicative of things in the future.

    I know all you punters will be saying....but look at the track record of some of the people involved, and I agree it looks like its being primed for big things.



 
watchlist Created with Sketch. Add MOD (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.