jabiru funding announcement..., page-23

Anthonyrowan, the book build process is subject to obtaining approval at the July 23 meeting. What funding announcement are you expecting in the next few days?

The book build will be at a 20% discount and based on the VWAP from late July. Does it make a difference to Ballantine if the bookbuild is done at 60 cents or 10 cents, just as long as they receive $200 mil. He knows shareholders have to approve it otherwise Newsat is finished. He also knows financiers will be easy to obtain with a low share price because they will own much more of the company. Ballantine will also be handsomely rewarded uopn completing this milestone.

I've been thinking today just what can stop this selloff but as much as I want I cannot find anything. He seems to have rendered the current value of the company meaningless. TTZ seems on the mark here but I am happy to hear alternative views.

I'm just quite annoyed atm re the whole thing. I have sent a formal complaint to ASIC re Ballantine not acting in the best interests of existing shareholders but this is seriously not going to change anything.

I see no upside until months after the bookbuild by which time the share price may be much lower. Long term it looks good but we may be too diluted by then to enjoy it.

Someone please tell me I'm missing something and I am wrong. Is it possible that larger existing shareholders will support the price or will deals be done between mates as Makattack alludes to.