So correct me if I am wrong.
1. We are now going to vote to dilute the share register by 30% (150m on offer now, 50m new shares are being created)
2. We are being asked to do it at a discount to what the market was valuing the company at (VWAP of 28c, peak trade of 32c)
3. We are doing it when we don't need capital.
I'll be voting against it.
If someone wants to buy into OVR and they want to do it off market, they should have to pay a premium. Otherwise, they can do the same as every other shareholder and pay what the market currently values it at.
placement details, page-2
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