As a result of IW securing these projects, IW and the Company have agreed to vary the Heads of Agreement (as announced on 21 October 2009) whereby the Company has now 3
agreed to acquire 100% of IW in consideration for a cash payment of US$300,000 (as reimbursement for expenses) and the issue of 630 million ordinary shares in the Company.
Is that 1.63 billion shares on issue plus the performance options?
SSS Price at posting:
4.9¢ Sentiment: None Disclosure: Not Held