Yes Tejveer you are correct, Jack Tuohy returned my call, & also brought to my attention Page 5 of the rights issue book, in bold
No shares will be issued or allotted under the Offer unless resolutions 3 to 6 (both inclusive) are passed at the adjourned Annual General meeting and Moby raises sufficient additional funding to provide it with not less than a net $18,900,000 to enable it to meet its farmin commitments under each of the Braveheart Farmin Agreement and the Moby Farmin Agreement.
as mentioned above the $18.9m is now ~$15.8m
This changes the ball game for me, i am now more confident this will be fully subscribed or close to it, as the risk to each shareholder funds, who applies for shares is virtually de-risked to a large extent. unless there is a sell off once these additional shares are received?
cheers
MOG Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
