I was told some weeks back that "he is not in today...." so I assumed that he would return my call within a day or two.
Who knows, perhaps he was stressed out and decided to take a few weeks off on short notice.
It would not surprise me if your info regarding the $15m shortfall is correct, since the full amount of the last cap raising was approved by shareholders. They can still take full advantage of Listing Rule 7.1 by raising a further 15% of the issued capital in the current year.
The fact that MM has been on leave for the past two weeks could explain why he hasn't attended to his portion of the cap raising. I certainly don't know why some people are worried that he will not come clean with the $5.4m since both Atlantic and MM "have each provided representations, warranties and acknowledgements that are customary for agreements of this nature". Also, If there is a $15m shortfall, I doubt that MM would have taken two weeks off if the funds were required urgently.
Definition of Warranty Warranty in business and legal transactions is an assurance by one party to the other party that specific facts or conditions are true or will happen; the other party is permitted to rely on that assurance and seek some type of remedy if it is not true or followed.
ATI Price at posting:
95.0¢ Sentiment: None Disclosure: Held
