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0.00% 3.0¢ troy resources limited

RAMcap Ltd letter

  1. edgemac
    545 Posts.
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    12/04/19
    13:40
    Post #: 38115783
    Has anyone received the RAMcap (Rc) letter yet?
    Rc have 14 M shares in TRY. They are looking to obtain support for convening a meeting of TRY with the purpose of removing one Director and passing a resolution to limit the NED's remuneration from 800k to 200k pa.

    Frankly IMHO only, I feel sympathy for the proposition. Rc also want the Board to embark upon a $10M Convertible Note raising to get Investec off the agenda and use the balance to commence Ohio Creek. They believe they can get a National Broker to underwrite the the Note. They suggest a 15c conversion price and a 6% coupon rate.

    I am interested in sensible comment?
    TRY Price at posting: 9.8¢ Sentiment: Hold Disclosure: Held
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    lightbulb Created with Sketch. 1  Great analysis
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