''Pretty obvious pump of a stock .. for obvious reasons .. will drop soon ... who bought over the last 3 days ? .. I asked this question 3 days ago ... it is where it is ... no material change to the company ... if they can demonstrate an ability to grow the business .. in real dollar terms then .. I will really get back in .. GLTA''
Oztrader, the option is clearly there in the CN documentation for JGB to pay 12.7c per share under clause c - in lieu of loan repayments and interest
IMO, this was a cheap CR as clause c will allow CM8 the ability to free up its cash flow going forward
Last 2 quarters results were well below presentation expectations and the CN will provide more debt for working capital
The price at which Conversion Shares and Interest Repayment Shares (Stock Payment Price) are to be issued shall be the lowest of:
(a) a 30% premium to the VWAP (converted to EUR) on the day of the Meeting;
(b) 90% of the VWAP for the Trading Day immediately preceding, as the case may be, the date of the applicable JGB Redemption Election Notice, the applicable Interest Payment Date, or the Crowd Election Redemption Date; and
(c) 90% of the weighted average of the 10 lowest VWAPs during the 20 consecutive Trading Days immediately prior to, as the case may be, the applicable JGB Redemption Election Notice, the applicable Interest Payment Date, or the Crowd Election Redemption Date.
