If VMR hold 16% and management are to give them another 13%.
This is 29%. Well over the 19.9% (And not one share brought on market as sold to investors)
So potentially.
1/ The coming dilution on these notes will be so great that it keeps VMR under 19.9%.
2/ VMR will take CCC out and move it all to SA. (De-list here)
I noted that they have gone back to not reporting cash in hand again. (not that I could see)
Only $3.5m left as of the FY annual.
Mines not even coming close to covering parent co costs.
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