Gday Rifici
I don't think BRT is being held down by anyone… there are no buyers at this stage.. not really the opposite which is too many sellers.
Why did he say 500k BRT.. probably bc Noble knew they were getting the 8 notes drawn down.
Remember, the notes are convertible at 8.5c (or 20% discount to VWAP, whichever is lower).. so basically if the shares are over 10c, the notes will be converted to shares at 8.5c.
So he can sell his 500k at 11c or 12c and know that he will get them back at 8.5c.
From memory Noble can, at any time, request the shares to be issued. BRT just stop paying the interest rate and get to keep the $$.
Gday RificiI don't think BRT is being held down by anyone… there...
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