Hi rastes, that’s why I wrote..... “There is no mention of any...

First 234 Last

Share
Profile

Follow
MeToo

3,857 Posts.

79

14/03/19

07:53

Post #: 37755259
Share

Originally posted by rastes ↑

I dont think you are quite up to speed yet mate. : )
Look consider this regarding your view on the commitment 'Fee'
Imo
First, the execution of the deed has been completed. Hence commitment charge fee would of had to been paid i imagine, and appears to me the cost from memory at around a 10% fee charge of the total loan amount and paid via shares as the con notes terms announced implies equivalent 44,700.00 shares at 1.8c.

Now In short- see the 3b page 3 notes ( vi ) comments!, they did not separate the numbers details, the commitment fee shares could of been slipped though in the 105,450,000 lot.
Now just below ( vi ) see notes, they combine the number of shares issued with (vii ) under 7.1.
Now if you then look at the investor presentation announcement, page 5 as a type cross reference you will see major shareholder's MEFI,LP 1.9%.
Methinks you can bet ya balls that Magna did not pay up recently cash for 44,700,000 mill shares at 1.8c
44,700,000 fits around with the 1.9% holding announced in the new investor presentation think ?
Anyways fwiw.
A current live T20 would be now very interesting. hehe. 1.9%
Ironic..

Expand

Hi rastes, that’s why I wrote.....

“There is no mention of any issue to Magna in the last 3B not even their commitment shares. (I have not added up the total shares issued)”

Maybe I should have qualified the above a bit more, did not look deep enough. So you are correct.

VEC Price at posting: 1.4¢ Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

Reply

Top Stories

WC8

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

OD6

Leo Lithium locks in US$116.3M with sale of Goulamina stake to Ganfeng

MIN

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

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

There are more pages in this discussion • 38 more messages in this thread...

First 234 Last

Add VEC (ASX) to my watchlist

Hi rastes, that’s why I wrote..... “There is no mention of any...

Top Stories

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

Leo Lithium locks in US$116.3M with sale of Goulamina stake to Ganfeng

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

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025