I was doing some research on MMX and came across this article which states the following;
"The South Koreans have paid $3 million for 10 million shares and 30 million options at an exercise price of 50c. Posco can move to 12 per cent after exercising the options, but the extra shares to move to 19.9 per cent (and a director's chair) would have to be bought on-market -- a factor that will underpin Murchison's share price."
I cound not find this info in any of MMX's announcements. I send an email to MMX to confirm but my email is playing up. Can anyone confirm this?
On my estimates Posco would have to buy around 16 million shares on-market.
