Ann: Trading Halt, page-23

I would say the the CR will be a 8 cents, same as the option exercise price.

If the share price remains below 8 cents, do you think many existing options holders will exercise?

Getting 100% will be near impossible even, if in the money.

The BOD is not going to knock back an approach from an investor, with some serious dollars.

If Rob Martin has the dollars just like any other shareholder, he will not be squeezed.

Extract from The Australian

Yet just hours later came a disclosure from Resolute Mining chief executive John Welborn that more than $2 million of shares had been the subject of an “unauthorised transaction” by his broking firm. The former Wallaby and investment banker informed the Australian Securities Exchange he was investigating how 1.2 million of his Resolute shares came to be transferred into the house account of his broking firm.
Mr Welborn did not name the broking firm and declined to comment when contacted by The Australian, but his disclosure came hours after this paper began making inquiries into rumours Mr Welborn and other business people were increasingly concerned about Somers. Mr Frazer’s clients and backers include Mr Welborn; Duncan Saville, the founder of $US20.5 billion international hedge fund ICM; and Capital Investment Partners managing director Gavin Argyle.
Concerns about Somers have grown since a proposed union between the group and Andrew Chapman’s Merchant Group was abandoned less than three weeks after it was announced in late May. The firms were poised to keep their autonomy under the deal, which would have seen Somers operate under the Merchant brand, but Merchant walked away after 19 days. That sparked speculation about what could have surfaced during due diligence to warrant such an abrupt break.