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0.8¢ protean energy limited

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Surandy70

10,910 Posts.

1750

11/02/20

19:02

Post #: 42870793
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Originally posted by 1234zxcv: ↑

From the latest announcement from Diamond Lakes dated 11/2/2020

For more information in respect of the Transaction, please refer to the
Company's news release dated January 27, 2020 (the "Prior Release"). As set
out in the Prior Release, the Company proposes to issue 20,000,000
post-consolidation common shares as initial Transaction consideration (the
"Consideration Shares"). Further to the Prior Release, the Company wishes to
clarify that the proposed recipients of the Consideration Shares will be:
KORID, as to 7,500,000 Consideration Shares; DST Co., Ltd. ("DST") (KOSDAQ:
033430), as to 7,500,000 Consideration Shares; and LKAT Co., Ltd. (LKAT") as
to 5,000,000 Consideration Shares. Each of DST and LKAT are shareholders of
KORID.

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Hmm, strange!

Why no mention in this announcement of Protean and who is LKAT Co Ltd? First I have heard of them mentioned in relation to KORID Energy.

To be honest, given the announcement I was not surprised that POW got no direct shares as DST seems to be the driver of this deal and the ones doing the ground work.

POW Price at posting: 0.4¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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