Hi peaceAKKI I think this is a positive move, even though it means a bit of dilution in shareholdings. ***It creates another significant top 20 shareholder (who will be interested only in the long term, so SP wont be hammered down as opposed to consequences of a rights issue). So adds value to SP. *** also this adds security incase of aggresive takeover attempt by large corporates.(i.e to have control over the % voting rights) ***Finance is mainly for Equipment/product upgrade. Obviously, the new investors have been impressed with the strategic plans in place, and are convinced with the financial returns on thier investment.(not just differences in SP v/s offer price). ***IMHO, PYC cannot give out any more details at the moment, as the potential new agreements have not yet been finalised in black and white.
IMHO there is a lot to read in between the lines. Time will tell, but a very positive move from my point if view as a long term investor.
PYC Price at posting:
6.6¢ Sentiment: Buy Disclosure: Held
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