Hi longreach...if there is no likelihood of a CR IYO...why do you think Resolution 4 to be put to the AGM seeks shareholders to approve an additional placement capacity of up to 10% of the shares on issue...they note in the resolution that this is in addittion to the 15% capital raising permitted under ASX listing rule 7.1A ? Noting also that the broker report from Moelis in March assumes a 10M Capital raising in FY 18. These brokers reports will be prepared after a private briefing by the company. Just a co-incidence you think ? I personally think there is a significant risk of the share capital being closer to 2Bn shares by year end (assuming the options get exercised)..or 1728m if they don't. This is significantly more that teh diluted shares capital circa 1.5Bn assumed in the updated Euroz report of 30 April? ..
Calcs below....interested in your thoughts..
Column 1
Column 2
Column 3
0
1075
m
shares Dec 2017
1
171
m
milestone1
2
214
m
milestone 2
3
1460
m
total shares after milestones
4
236
m
options
5
7
m
per rights
6
1703
m
shares + options
7
268.75
m
potential capital raising based on 25% of 1075m to yield $10.75m cash
8
1971.75
m
total shares
SFI Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held
