An Ouchie !!...
Well we will say how this EGM pans out.
Its not as if SYA can go for another round of shares to issue prior to EGM...
How can they at sub 2 cents..hahaha
Fun MATH ......
PLL Shares on issue 2,194,352,100
SYA Shares on issue 11,543,296,014
Now Pll will get 3 SYA shares for 1 Pll shares = 3 x 2,194,352,100 = 6,583,056,300
Now add 6,583,056,300 + 11,543,296,014 = 18,126,352,314
A grand total of 18,126,352,314 shares for elevra or whatever the name of the merger is.
Now,
divide Pll's share of 6,583,056,300 with 18,126,352,314
So, 6,583,056,300 ÷ 18,126,352,314
= 36.32 %
Wallah, PLL shareholders will magically have 36.32% of the new merged company.
As the new company will be based in Australia, Pll's US connections will bear no weightage that is if it had any.
SYA BOD is too generous to shrink the retail or keep diluting them to pay for their endeavors and pretend as if
they are helping out the original shareholders with this crap of a deal.
A merger has to be between equals not a weightless hollow company and someone with a few assets.
Do SYA shareholders feel okay with giving 36.32% of the new company to PLL holders.
PLL with an original stake of 25% in the asset at NAL.
One can paint the pig with a lipstick but it will still remain a PIG!
which PLL is.
Failed projects all around
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