CL8 7.69% 1.2¢ carly holdings limited

Hi @webbj please be advised that the current funding arrangement...

  1. 369 Posts.
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    Hi @webbj please be advised that the current funding arrangement is not at 1.8c per share.

    Issue price of the equity funding is based a 15% discount to the VWAP for the last 10 days

    this was agreed so that we could access funds hopefully at a higher share price and thus suffer less dilution.

    we still have access to draw down a further $2 mill

    The company is actively trying to get the SP up so that they can get the $3 mill worth of options (at 2c) in the money before the expiry date (april 2017) and so that they can access a few more $$$ at a higher share price to tide them over until then.

    At the end of the day the majority shareholders - like Dom and Hishenk would prefer to raise at a higher price. Management have a lot at stake in this company.
    Last edited by ChiefMuppet: 04/11/16
 
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