Ann: Quarterly Activities Report, page-27

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The Mole

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31/10/17

15:09

Post #: 28356573
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Originally posted by Shady Merv ↑

From the depths of the AGM Notice:

Conversion of Performance Rights

(a) (Conversion on achievement of milestone) Subject to paragraphs (b) to (e) below:

(i) 6,000,000 Performance Rights will each convert into one (1) AUR Share upon AUR achieving a market capitalisation of $48 million for a period of 30 consecutive days within 3 years from the date of issue (Tranche 1 Performance Right); and

(ii) 6,000,000 Performance Rights will each convert into one (1) AUR Share upon AUR achieving a market capitalisation of $64 million for a period of 30 consecutive days within 3 years from the date of issue (Tranche 2 Performance Right). (each, a Milestone).

Now, that's 3m Wade Evans x 2 and 1m each of the 3 Directors x 2. FREE shares, and for what?

T1 shares issue when MC reaches $48m before the end of (roughly) 2020.

T2 shares issue when MC reaches $64m before, I think but not sure, end of 2023.

Come on, get angry. As at the 4 August this year the SP stood at 10c (maybe 10.5 even) for a while. The MC with an SP of 10.5c was at that time was about $37.9m, $10.1m short of the target. Assuming that all of the shares from the underwriting ag't have now issued (Resolution 12 seeks ratification of it), then there would then be 408m shares on issue. Assuming 10.5 regained = MC of $42.84m.

The more shares that get issued, then the bigger the chance of meeting the targets. Imagine having 3 years to meet the T1 target.

C'mon get angry! or just vote NO!

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SM, maybe we get smart, and any time the MC looks like it approaching the $48m figure for 30 days we sell some shares down below the $48m figure so the 30 days has to start again. Doesn't have to be too many.

AUR Price at posting: 6.3¢ Sentiment: Buy Disclosure: Held
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Ann: Quarterly Activities Report, page-27

Top Stories

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Sales growth pushes Lovisa's fortunes (and shares) upwards

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

HotCopper Highlights: Your most watched stocks for Week 47, 2024

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Week 47 Wrap: HotCopper users' most watched; Brent lifts on Putin's scary letter; RFK dents CSL

Panic, paranoia, and gangland politics: HotCopper users react to Dubber's missing $26M

Dale Gillham's weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

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Sellers (Offers)