Good news is: GMC expect to be re-listed Friday 23/6.
Of concern to me is section 5.1 a), pg 18:
For Tanah Capital to subscribe to the 2nd tranche for $3m they need a "notarised lease on terms acceptable to Tanah Capital ...".
Then it follows,
"the executed Land Lease Agreement remains unacceptable by Tanah Capital but accepted by BB Lee Superfund. Unless either satisfied or waived by Tanah Capital by 30 June 2017, Tanah Capital will not subscribe for the second tranche."
There's an opinion floating on the forums that GMC won't re-list until July to avoid a tax sell off. Could this just be a ploy to delay until July? Or is it a serious concern?
I recommend fellow shareholders to have a close read of section 5.1 (a) and (b) on pg 18.
GMC Price at posting:
4.2¢ Sentiment: None Disclosure: Held
