Hi PA. Yes you're right - perhaps the free option has a determined face value as I thought the 1.07 figure was odd. i.e 0.017 + free option equates to the 5 day average. Not sure. Maybe an EGM will be called but I guess it will be in the prospectus. They should have called a trading halt. It'll be pumped at some stage as they all do. GL.
placement of 100m shares at 1.07c, page-16
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