Well i really hope it works out for you all with AKK, but this deal is worse than dancing with the devil.
Magna are a bunch of blood suckers who will drive the share price down then convert portions of the facility into shares which they will slowly dribble onto the market further dropping the share price. They will continue to do this while they have terms of conversion at 20% of 5VWAP.
If you shareholders have the chance to vote this down, i would as the only winners will be management and of course Magna.
How do i know all this. Well unfortunately i am involved with NSL and they have been, or should i say, shareholders have bent over by Magna with their constant selling of shares causing a death spiral in the shareprice over the last 2 years..
Best of luck people but Magna make me sick.
Regards The Tinhopper
AKK Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held