Ann: Silex and SQC Sign Expanded Commercial Arrangements, page-29

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seawindpilot

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29/02/24

18:45

Post #: 72678919
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Originally posted by gtc61: ↑

The strike price is 4.05 as clearly stated in the Section 3B is 4.05 no ifs buts or maybes, not conditional on any VWAP, concessions or anything.

Offer price details
Are the +securities proposed to be issued being issued for a cash
consideration?
In what currency is the cash
consideration being paid?
AUD - Australian Dollar
What is the issue price per (no clauses or condition)
+security?
AUD 4.05000

The number of subscription shares will be the lesser of i) the number of fully paid ordinary shares equal to $2m divided by
the volume weighted average price (VWAP) of SLX for the 10 trading days from the date of this announcement; or ii)
493,827 fully paid ordinary shares
Where in the above does it mention the price of the shares will be? It doesn't, it only determines the number of shares at the price of the stated 10 day VWAP. The strike price remains 4.05!!!
The number of shares allocated is based on the 10 day VWAP to determine that on todays price (or more correctly the 10 day VWAP) how many shares equate to 2 million. So if the VWAP price is above 4.05 they get less shares but the price they get them for 4.05 unconditional. It still means they have shares worth 2 million on the VWAP price but could possibly dump for a handy instant profit.

This is why there is a term for trading them, they could dump them straight away otherwise. Let's hope they haven't acquired a significant amount on market (below a level that need reporting) as they could, given the low liquidity of Silex at present, dump shares knowing they will get the at 4.05 without risk and get more because of the lower price.

The one constant in the 10 years I have been invested in SIlex is the fan brigade championing every move the company makes. (Hence the upvotes for incorrect analysis) It is still a high risk (but getting less so) high return stock and I wouldn't be putting in what I couldn't afford to lose. TRL6 failure would be catastrophic, although I think is very unlikely.

Expand

Today SLX issued new shares to SQC. You will see that the issue price is $5.0568 Per share.

See the first part of the announcement below. The announcement came in the cleansing notice.

Silex Systems Limited (Silex or the Company) (ASX: SLX) (OTCQX: SILXY) has today issued395,507 fully paid ordinary shares (Shares) at an issue price of $5.0568 per Share to SiliconQuantum Computing Pty Ltd, to complete the placement of $2,000,000 (refer to theCompany's ASX announcement dated 23 January 2024 for further details).

Enough said.

SLX Price at posting: $5.00 Sentiment: Buy Disclosure: Held
17 Upvote

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(20min delay)
Last $5.29		Change -0.090(1.67%)		Mkt cap ! $1.253B

Open	High	Low	Value	Volume
$5.40	$5.46	$5.21	$2.256M	425.6K

Buyers (Bids)

No.	Vol.	Price($)
1	3799	$5.26

Sellers (Offers)

Price($)	Vol.	No.
$5.29	1343	1

View Market Depth

No.	Vol.	Price($)
1	3799	5.260
1	1344	5.240
2	1444	5.230
1	1344	5.220
3	1594	5.210

Price($)	Vol.	No.
5.290	1343	1
5.300	4725	3
5.310	1344	1
5.320	2344	2
5.360	129	1

Last trade - 16.10pm 18/06/2024 (20 minute delay)

SLX (ASX) Chart

Ann: Silex and SQC Sign Expanded Commercial Arrangements, page-29

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Ann: Silex and SQC Sign Expanded Commercial Arrangements, page-29

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