KAS 0.00% 1.2¢ kasbah resources limited

Ann: Kasbah Completes Convertible Loan Transaction, page-2

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 56 Posts.
    lightbulb Created with Sketch. 35
    $5.1 m @ 12% interest convertible loan fully secured by KAS's 75% of Atlas Tin SAS with an additional 2% extension fee and 15% interest to extend from 31/12/19 to 31/12/2020, after which Pala can convert at 1.2 c/s for 48.9% and hand virtual control of KAS and Atlas Tin SAS to Pala, which is owned by a Mr. Vladimir Iorich of Zug, Switzerland. Nice deal if you can get it!

    The "Independent" expert concluded the transaction was 'not fair' but 'reasonable' and reduces the underlying value per share from between 2.3c - 3.8c pre transaction to 2.0c - 3.0c post transaction.

    KAS board and management must have been absolutely desperate to have agreed to this proposal (or been promised jobs down the track?) and those who voted for it either know something that the rest of us don't or didn't bother to read the resolution or expert report.

    Congratulations fellow shareholders, the future of KAS is now in the gentle hands of Russian billionaire oligarch Vladimir Iorich.
 
watchlist Created with Sketch. Add KAS (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.