Ann: Myall Creek Well Update, page-41

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Kreno

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14/07/18

11:43

Post #: 34343352
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Originally posted by Large Portions ↑

There is a range of positive and negative impacts from the Convertible Notes (CN).

Specifically re the Market Cap, the CN's are not included, and in fact the CN's are a drag on our earnings and are reported as debt. Thus the CN's have an adverse impact on our Share Price.

If the Company was to repay the CN's over the next 12 months (which is what I very much want to happen), then I could see no other impact other than our Share Price doubling, which would be terrific for Shareholders.

We have covered Armour's CN's in other threads, so apologies if I this has already been covered, but there are a few positives in retaining the CN's as well :

* at the time, the CN's were considered the best form of funding capital for the Company, there was at the time many reasons, I can elaborate, but we have covered previously;

* interestingly the CN's act somewhat as a TO deterrent, I am not sure but I think this was probably a targeted strategy by Armour after the Westside attempted TO. IMO any company would think twice or three times before taking over a Company with this type / amount of debt ie the CN's.

As a related matter, I am enjoying our small SP increase. I've made no secret that I've always considered our SP base minimum should be .10c and looks like this will be happening soon. A few more positives after that should see our minimum SP grow from there.

GLTH

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Thanks LP for taking the time to respond much appreciated. Imo given this proven managment team/deal makers anything under 100m mc is a steal. Market doesn't often present gifts like these.

AJQ Price at posting: 9.4¢ Sentiment: Buy Disclosure: Held
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Ann: Myall Creek Well Update, page-41

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