Australia's largest stock trading and investment forum Australia's #1 stock forum

SRY

Click for more information

0.00%

0.4¢ story-i limited

maybe - but if they don't have a raising then they should be...

First 5 Last

Share
Profile

Follow
saintly96

235 Posts.

5

13/06/17

13:26

Post #: 25245399
Share

Originally posted by lkdog ↑

My reading of the following is that the company is signalling a future capital raising but rather simply saying that if it does hold a raising, the note holder will have a right to convert their note to participate in the raising.

"The Lender has the first right of refusal to participate in future upcoming offer by the Company to subscribe for or purchase shares in the Company before the Maturity Date by converting the Note into the number of ordinary shares determined in accordance with the terms of the future offer."

As I understand it, they're still looking for ~$6m in convertible notes. They need at least $3.9m ($2.4m more) to complete the Estore and Emax deal.

I think this is a good result but it's disappointing that it's taken them so long and that they've only raised a small proportion of what they need.

Expand

maybe - but if they don't have a raising then they should be disclosing what the terms of the conversion are given it is convertible (or presumably repayable?) withing 4 months. Market should be told what the conversion price is.

SRY Price at posting: 4.2¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

Breaking news: New opportunities for investors & companies - HotCopper opens to capital raising!

MEI

Sperm tech player Memphasys ships unit to Dubai – but can the stock attract liquidity?

AXN

Rising demand, China's 'tech war' bans leaves this germanium explorer with significant investment potential

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 • 2 more messages in this thread...

First 5 Last

Add SRY (ASX) to my watchlist