Cocopops , So EEG are looking at raising A$15 million @2.0c if...

Cocopops ,

So EEG are looking at raising A$15 million @2.0c if the Macquarie conversion is included in the placement figures or A$20.4m if it is not .

If A$20.4m , this is 1,020 million additional shares .
If A$15m , this is 750 million additional shares .

According to the 3B of 18/June/2018 , EEG had 1,265,237,176 ordinary shares .

So the overall dilution is either :-

1020 / (1020 + 1,265) = 0.446 = 44.6%
or 750 /(750 + 1,265) = 0.372 = 37.2%

All this at a manipulated down price of less than half the peak it hit during a trading session only a few weeks back .

Long term holders who have not been offered the theft placement have just lost 40% of their position .

What the heck is the cash going to be spent on ?

If these figures are correct , Bruce McLeod should be ashamed that this has not been offered to all share holders .