FFX 0.00% 20.0¢ firefinch limited

Say no to the raising! Close this dog !, page-21

  1. 4,995 Posts.
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    The reason FFX couldn't sell off its entire LLL holding is because those shares were escrowed, they tried and rejected by ASIC.

    "The Company is not permitted to deal with or sell the Escrowed Shares except in limited circumstances as permitted by the ASX Listing Rules, for example a takeover or scheme of arrangement."

    Maybe by the company putting together this funding package, it just shows that we are in dire need for funding and this is an extreme situation, that could potentially convince ASIC that we need to sell the LLL shares to stay afloat - once SH disapproval tranche 2 and debt conversion to shares.

    And maybe Scott's $150k funding payout was not with this funding package in mind, but the ability to get funding via selling LLL shares at the end.


    Last edited by Charles89: 21/09/22
 
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Currently unlisted public company.

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