Hi Putty they will need to issue a lot more shares than that to raise the 59 million purchase price. They have nearly 4 billion shares on issue at the moment and that only gives them a market cap of 15 million. In the announcement they intend to raise 90 million dollars to finance this purchase etc . ( WOW ) Something is wrong with the figures as I see it. RRS have paid 4.25 million for a 10 percent stake. MHL are issueing 2 billion shares PLUS 59 Million for the remaining 90 percent stake ( This is a lot higher than RRS entry price) What is it that I am missing out on DYOR Cheers Towie
MHL Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
