The way I read it, ENN has provided a (MARGIN) loan to Glenn Willis, using his current holdings as security. They have lent him 4.25m x $2.15 to acquire 4.25m unlisted shares at $2.15 each - although there probably was no exchange of money involved. He still has the obligation to repay the value exchanged.
They have also given him (for free) 2m options exercisable at $3.05. Not sure of the expiry on those options.
Not a bad endorsement foe ENN.
The way I read it, ENN has provided a (MARGIN) loan to Glenn...
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Last
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Change
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Mkt cap ! $124.8M | |||
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