IMO the discount, which seems pretty normal in any junior cap raises I see, was given cos TNG is a big project with a huge capex so high risk. After the cap raise it valued the company at $100mil, which is what the market has been valuing TNG at for years!
Also they weren't given a seat on the Board which it was indicated at the time they wanted.
I agree it was probably fast tracked cos the Browns 249D not only wanted Rex removed from the Board they also wanted him prevented from remaining as a contractor to the Board and as he was the money man it could have left TNG high and dry when they were working on the Vimson deal.
Just my opinion. Don't know how these things work.
TNG Change of Management | Update 25, page-54
Add TVN (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
4.5¢ |
Change
-0.002(4.26%) |
Mkt cap ! $77.73M | |||
| Open | High | Low | Value | Volume |
| 4.6¢ | 4.7¢ | 4.5¢ | $73.91K | 1.607M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 1737549 | 4.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.7¢ | 69966 | 1 |
View Market Depth
| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| TVN (ASX) Chart |