Ann: Prospectus - Non-Renounceable Entitlement Issue, page-11

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28/03/19

10:41

Post #: 37910873
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Originally posted by Creaturemagic: ↑

If we assume that the offer is mostly ignored and Pinnacle ends up underwriting almost the entirety of it, and they then use their convertible note, they could hold approximately 22-24% of the company's shares. If they chat to APSEC who will hold approximately 8% of NORs shares after this raise, they could together own 30% of the company. This, plus some disgruntled retail investors and perhaps other T20 holders, could possibly result in a change of company direction. Given Paul just took a pay cut, it'd be prime time to fire him (he still gets 6 months pay, so better to do it now when his 6 months pay would be lower).

Doubt Pinnacle or ASPEC care for World This or That. They'd likely be happy to pivot the company to something else provided it was going to prove more successful than the current direction... which isn't hard to beat.

With almost 2 billion shares on offer by the end of this raise, I really can't see much hope for shareholders though.

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To go above 20% holding in a company you need to follow takeover rules which I think would involve putting in an offer for the company to all shareholders.

Thats why the underwriting isn't in full, it could put Pinnacle over 20%. I don't think they could convert their note either if it put them over 20%.

NOR Price at posting: 0.3¢ Sentiment: Sell Disclosure: Not Held
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Last 3.3¢		Change 0.003(10.0%)		Mkt cap ! $14.25M

Open	High	Low	Value	Volume
3.1¢	3.3¢	3.1¢	$7.338K	225K

Buyers (Bids)

No.	Vol.	Price($)
1	50000	2.9¢

Sellers (Offers)

Price($)	Vol.	No.
3.3¢	215795	2

View Market Depth

No.	Vol.	Price($)
3	215000	0.030
2	100000	0.029
3	777000	0.027
3	750000	0.025
1	1875000	0.021

Price($)	Vol.	No.
0.035	30000	1
0.040	100000	1
0.041	123849	1
0.044	120200	4
0.046	21759	1

Last trade - 14.28pm 22/11/2024 (20 minute delay)

NOR (ASX) Chart

Ann: Prospectus - Non-Renounceable Entitlement Issue, page-11

Top Stories

Dale Gillham's weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

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Panic, paranoia, and gangland politics: HotCopper users react to Dubber's missing $26M

Sales growth pushes Lovisa's fortunes (and shares) upwards

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Buyers (Bids)

Sellers (Offers)