Hey Markjohn, remember it's $8m USD not AUD. I make it just under AUD 0.25 a share for their stake at current FX rate of 0.744. 388m shares currently They buy 1/9 of that so they then have 1/10 of shares. 1/9 of 388m = 43.11m shares US$8m = US$0.18557 per share =0.249 AUD per share. I hope I'm correct with the above, as issuing 1/9 of the company at a 47% premium to the last traded price (0.17) would be a hell of a show of confidence in GSL by those investing the US$8m.
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