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3.13%

3.1¢ armour energy limited

Ann: Quarterly Activities Report, page-4

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Killa68

411 Posts.

161

01/02/19

18:51

Post #: 37304401
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Originally posted by frmen1: ↑

Thanks Killa68. I went back through the explanatory notes about the 30M shares and guess what? The shares are intended to be placed within 3 months of the AGM (27/11/18) at 0.10, but otherwise 80% of the 5 day VWAP before the placement. I stated in my earlier post that the sudden drop in SP seemed almost desperate; perhaps this is the end play, for 30 M shares to go out around the 0.07 range. If that's the case, we'll find out shortly.

"It is intended that the 2018 Placement Shares be issued at 10 cents per share, but will be issued at a
price of at least 80% of the 5 Day VWAP for Armour Energy shares immediately preceding the issue." (Armour Energy explanatory notes at the AGM)

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I think we can lock that in @frmen1 I would hope higher than 7c but looking very unlikely in my view.

AJQ Price at posting: 7.0¢ Sentiment: Hold Disclosure: Held
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