He's getting a 15% interest rate and full exposure to any upside in the share price, and ranks as top creditor.
Same with DGR, we went from paying 15% interest to paying 15% interest and giving them a bunch of options (basically) as well.
I'd take both those deals. Not even sure the cap raising will be at a discount by the time it comes around.
Hopefully it's enough to turn it around; I'm really struggling to see the maths adding up at the moment though.
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- News: AJQ Armour Energy Ltd updates on capital raising program of up to A$40 million
News: AJQ Armour Energy Ltd updates on capital raising program of up to A$40 million, page-10
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