Swordfish, I wasnt suggesting you were among the complainers, my apologies if it read that way.
When NMR acquired Walkabout it issued various classes of NMR shares to the Walkabout sharholders as vendors. Some of these were performance shares which had the character that they would convert into ordinary tradeable NMR shares upon varios " landmarks" being achieved in terms of defining the Takokatwane coal resource.
The latest issue of 120 million shares (based on a current MV of $1.5 million) represents the last of these performance shares that can be converted. As you rightly say , it would have been better if the conversion could haqve occurred at 4 or 5 cents, not 1.45 cents, however the share price is what it is. I know that the NMR Directors, who already owned a lot of NMR shares would have preferred the conversion to occur in a less dilutive situation.
Hope that helps.
NMR Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
