then ORS (THE COMPANY) will still hold 170m AYC shares and 50%...

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sydney6791

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10/07/15

03:28

Post #: 15610950
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Originally posted by sydney6791 ↑

Octagonal Resources Limited
 Octagonal to receive $5.1 million in A1 Gold shares @ 3 cents per share 5, 1:3 options 6, & a board position
 Approximately 50% of A1 Gold shares and options received by Octagonal to be distributed to Octagonal shareholders

25, June 2015:

In consideration for the sale of the Maldon Gold Operation Octagonal has been issued with 169,672,726 AYC shares and 56,557,576 AYCO options and Mr Anthony Gray, Managing Director of Octagonal, has been appointed to the board of A1 Gold.

So 50% of 170m AYC shares and 50% of 56m option should be transferred to existing ORS SHs, we have 250m shares on issue, I work out 85/250 + 28/250 = every 3 ORS shares should get 1 AYC shares and 0.4 option.

In other word, every ORS share will be paid 1.1c (if you select to sell your AYC shares: 3.3c/3=1.1c)+ free carried option.

then ORS (THE COMPANY) will still hold 170m AYC shares and 50% of 56m option , equals 1.1c per share at today's AYC SP.

1.1+1.1=2.2c per share, that's at least the fair value ATM, upside potential is extra bonus......

Anyone got more details? when can we get the free shares?

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then ORS (THE COMPANY) will still hold 170m AYC shares and 50% of 56m option , equals 1.1c per share at today's AYC SP.

sorry, should be:
then ORS (THE COMPANY) will still hold 85m AYC shares and 50% of 56m option , equals 1.1c per share at today's AYC SP.

ORS Price at posting: 1.1¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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then ORS (THE COMPANY) will still hold 170m AYC shares and 50%...

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