Reasons 1. The shortfall offer was NOT underwritten, so 62 Capital have no obligation to subscribe to the remaining shortfall shares. 2. If 62 Capital had subscribed, they would be in the Top 20. According to pre-reinstatement discloses, 62 Capital are not in the Top 20. 3. If 62 Capital had subscribed, they would have relevant interest of approx. 16% meaning they would obliged to lodge a substantial shareholder notice. 62 Capital have not lodged a substantial shareholder notice. 4. If 62 Capital had subscribed, the company would have needed to issue a new request for quotation and an updated SOI for MMR and MMRO. 5. Therefore, it is evident that 62 Capital cannot sell shares that have not been subscribed for, have not been issued, and have not been allocated.
Therefore, the repeated assertion by this poster that "62 Capital have millions of shares and will flood the market" is false and misleading.
Given the poster proclaims to have decades of experience, an error of this type is unlikely to be an oversight. It is more likely that this misinformation is being spread deliberately.
Given the current SP, it is more likely that the balance of the shortfall offer will lapse.
The post has been reported for "unsubstantiated information".
MMR Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
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