Why Would SP Go Up...Not Down?, page-2

I sold today it has been diluted to the absolute sheet house:

 The issue of 2,073,547,651 Ordinary Minbos shares - This is the same number of shares that is currently on issue in Minbos.  Petril shareholders will have a right to subscribe for that number of Minbos shares at an issue price of 1 cent each that is equal to the number of Existing Options in Minbos that are exercised on/or before 30 December 2016.  The issue of 237,829,976 deferred shares that can convert into shares on the basis of the number of Performance Rights from Sofosa that converts into Minbos shares in the future.  A royalty to all Petril shareholders for the Lucunga Project (details on the royalty set out below). Haifa Chemicals (the joint venture partner in the Lucunga Project) will hold between 22-35% of the Lucunga Project after dilution arising from cash calls until completion of the Transaction. Haifa can consent to its share in the Lucunga Project being acquired by Minbos and should this occur, it will then be entitled to the same royalty as the Petril shareholders.

PG