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hcp123

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12/12/18

09:18

Post #: 36828321
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Originally posted by dariusgear ↑

Originally posted by hcp123
It should be close to that number.

Rule 7.1 is 15% of shares on issue.

The vote was for Rule 7.1A which allows another 10% and was approved.

Total of 25%

P.S.
At todays price, that will only come to around $26million max. Thats assuming they can find buyers for another 460million shares and those buyers dont want the discount. If they can, hopefully thats enough to get 2 batches of pearls up.
Thanks for keeping up with the latest news. A 25% partner would change our dilution by 33% ( 25% vs current 75% ). This inverse calculation seems a little sneaky when you look at it this way. No wonder the share price has upward restraint. I am becoming a stronger believer that 10c or over makes it work nicely for us all. Under 10c may keep pressure on funding for a bit longer. We have to remember that Di is rewarded for sourcing $50 Million. If you join the dots ( again my poetic licence is having a stretch ) then there will be no share price pressure down when funding is announced. Negotiating at a higher share price would take more time as selling the future benefits will become the focus of the discussions.

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In my opinion, the best thing SAS has going for them at the moment besides their tech is 2 new directors with relevant experience and contacts whos only real rewards will come by securing a substantial funding deal.

SAS Price at posting: 5.6¢ Sentiment: Hold Disclosure: Held
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