According to the performance rights, AJ stands to gain over 3.3M shares if the company enters into a Material Transaction. That will make him a top 10 shareholder.
Material Transaction means either:
1. 50% JV
2. Takeover bid
3. Control transaction
4. Finance either equity or debt funding
Otherwise, the other targets are 45 cents and 56 cents SP (45-day VWAP)
So, which scenario is more likely to play out?
Upside to VXR Could Be Huge, page-2
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