Just had a look at the 3GCoal website..
Looked at the Top 20, and who do I see up the top with 33% of the company(~9million shares).. and who's 2nd? with another 11%(3.1million shares) ! No prizes for guessing! PLUS 9 million options and 3.1milion options . all Pre IPO shares and options from what I can work out in the prospectus.
Look at section 3.10 of the 3GCoal prospectus to see what price the shares were issued at in the past leading up the IPO.
You'll notice 16.5 million shares issued at $0.0001 pursuant to incorporation , plus a bunch of other share issues along with a "selective share consolidation" plus with some other events. . because of all that I cant work out exactly what the directors paid in total for their shares but suspect it was peanuts. - Id love someone smarter than me to work it out and share?
.. perhaps something similar was done with MTC pre IPO but there wasn't a table like that in the MTC prospectus or anywhere else?? So impossible to know? Unless I've missed something?
It also says the 3GC ASX listing date is 30th Nov.
Also Says Russell is Chairman of "ASX:ZN1 reserved" so that must be the next IPO for these guys.
Looks like MTC will be on the backburner for a while yet IMO.
All in my very honest opinion
MTC Price at posting:
3.9¢ Sentiment: None Disclosure: Held
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