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0.6¢ gulf manganese corporation limited

Ann: Gulf Completes Capital Raising - Receipt of $1.5M, page-48

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backwardsturtle

155 Posts.

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02/11/17

11:21

Post #: 28431477
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Originally posted by J.W.Pepper ↑

Hey champ, firstly I want to make sure we are talking about the same C.R. - $12mill. yeah? because that's the one that matters.
Your math says they paid 0.009? and I'm not sure where you get 0.03 or 0.045? I think you need a new calculator champ, but oh that's right you worked it out from your brain.
Here are the simple terms as set out in the 15/6 Prospectus - "For the offer of up to 800,000,000 New Shares at an issue price of $0.015 to raise up to $12 million before issue costs with 3 free attaching New Options for every 2 New Shares issued, exercisable at $0.005 each, expiring on 21 April 2019."
You can't put a value on the free oppies, that is a sweetener for the sophs, who knows what they will do with them, some will sell on market, some will convert @ 0.005 and some will expire. So at the end of the day the sophs forked out 0.015 per share to raise $12mill.
Thanks for your time .

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You can’t put a value on free options?
What are you on about?
They can be traded on market, of course they have value...

GMC Price at posting: 1.0¢ Sentiment: Hold Disclosure: Held
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