There we have it folks, the letter to shareholders today contains this, we basically have 2 choices, vote no and sayonara to our dough or vote yes and more than likely say sayonara to our dough.
Seriously, "Hartree has agreed it will negotiate in good faith."
I suppose a no vote will speed up the process for us and we have a tax write off for 23/24, if not, it will be delayed another year. I think I know the answers and comments, but would anyone like to add? Or has enough been said?
"Under the Warrant Deed entered into with Hartree, once the Company’s operations and financial position are on a firm and sustainable footing supporting a profitable business, if the Company wishes to seek a listing on ASX or another exchange and Hartree agrees (acting in good faith) that to do so is in the Company’s best interest, Hartree has agreed that it will negotiate in good faith any changes to the terms and conditons of the warrants that are required in order to allow the Company to list (including compliance with any mandatory escrow requirements imposed by an exchange). We continue to believe that accepting Hartree’s proposal is in the best interest of shareholders, critically facilitating satisfaction of the conditions to provision of further funding for Avebury to provide it with needed liquidity and capital. It is important for shareholders to note that Mallee has run a comprehensive process to seek alternative funding sources to support the final push at Avebury. This work continues, and should a superior offer emerge, it will be presented to shareholders."
MYL Price at posting:
70.0¢ Sentiment: Sell Disclosure: Held
