ready to run (away), page-43

"...GCL has also agreed to subscribe AUD120 million for an approximately 5% interest in the issued capital of Linc Energy. GCL has agreed to subscribe to a first tranche AUD60 million placement on execution of the joint venture contract suite for 2.5% of Linc Energy's issued stock at an issue price of approximately AUD4.50 per share. GCL will subscribe for a further tranche AUD60 million placement upon the successful completion and commissioning of UCG operations at the first site in China. The subscription price per share for the second placement will be the higher of the subscription price per share of the first placement or 130% of the 30 day VWAP immediately preceding the second placement...."

Im glad they added the "higher of..."in that last little statement, otherwise they would be getting them at about 62c.
Did someone mention "hostile takeover".....120 million just about buys half the company at present market cap, why settle for just 5% lol.