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I agree about the dilution re these expiring options.And If EEA...

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FishiesPal

1,417 Posts.

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26/07/24

16:08

Post #: 74935590
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Originally posted by Xerof: ↑

Fishies,

As far as I can tell, the Company has done nothing to encourage punters to convert their options - haven’t seen a reminder letter

my view is this is strategic - the major SH doesn’t want dilution undermining their (significant) control. Remember, when they convert their 500m next year, they will have over 50% for doing nothing, and at no control premium

We have yet to see any notice of recent conversions - maybe today, but certainly next week, given TT has converted a few, but given the small amounts of selling recently I would think right now there closer to 80m left

As a small shareholder I would like to see them all converted, purely from a control perspective.

what makes you think the Company can ‘offer out’ unconverted options? IMO, this can only be done via a formal underwriting agreement prior to expiry

The silence on all these fronts just reinforces my view that our major SH will be delighted to see these expire

Expand

I agree about the dilution re these expiring options.

And If EEA get to exercise the additional 500,000,000 options, it will be after a ML has been issued and we have signed Port and Rail access agreements cemented in place. By then we will be trading at multiples of these prices 1 would think and the 7c options won't be an issue. In fact, probably deserved.

The underwriting agreement may be in the small print when ASHANTI did the deal. I wouldn't put it past them tbh. Time will tell very soon.

Enjoy your weekend everyone

Last edited by FishiesPal: 26/07/24

CAY Price at posting: 7.8¢ Sentiment: Buy Disclosure: Held
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