90,909.091 JDR shares issued to Exchange Minerals at a deemed issue price of $0.022 a share.
Who knows whether it is possible to do a 'pretty good deal' with Exchange Minerals until JDR does its due diligence.
It's worth noting the following in passing.
According to this site
https://www.marketindex.com.au/asx/jdr
JDR currently has 339.53 million shares on issue.
If Exchange Minerals gets from the deal 90.90 million shares and converts its 25 million options it would have a total of 115.9 million JDR shares.
When added to those currently on issue that would make a total of 455.43 million shares on issue.
That gives Exchange Minerals a total of 25.4% of JDR's shares on issue.
That would be a very large percentage holding and require an exemption from the 20% holding rule.
https://www.allens.com.au/pubs/pdf/ma/takeovers-handbook.pdf
We might, I suppose, find that Exchange Minerals does make takeover bid for our company.
Anybody going to the next JDR AGM?
Ann: Update on Acquisition of Austrian Exploration Assets, page-10
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