Old rastes pencil just broke and no sharpener. Grrrrr.
Now in this unusually unheard crazy Magna loan, like in the key terms for the Magna loan ii., VEC have not for some reason put the US$ --AU$ Formula equivalent regarding the Magna Per Con Note Face Value in AU$..
1 con note Face Value in US$1.20
1 con note Face Value in AU $ ??
Lordy - methinks should conversion eventually occur in part or full and the share price is at for - simples sake- 1c then divide that into one Magna Con Note is what? Wow golly gosh..
On another much much more serious matter i believe.
Regarding the loan Security, is any share holder concerned with Magna having too much security.
ie: - viii
" General Security Agreement ""
Now my understanding is this actually is a security agreement that covers all the assets of the borrower
Like the benefit of using a General Security Agreement is that you don't need to list out every single asset that is being used as security.
Lordy lordy lordy. Tuff mob that Magna crew.
Old rastes would have said co/mon fair go and insisted on just a ( Specific Security Agreement : )
Ps.
Suppose VEC didn't need to mention the GSA detail coz every single share holder understand it. Right ?
