RE: EBT: "Undiluted" Confusion; Milestone Share Price Targets24 May 2026 08:17
SilverFoxd - In your earlier post addressed to Mike, you said: “These targets are undiluted. That means these targets IGNORE further dilution of options, warrants, NEW issues etc”
Now, in your post to me you are saying: "Undiluted means current shares in issue, excluding EXISTING, options, warrants, convertibles in the calculation. If there are currently 5B shares issued, but another 1B in warrants, options, etc - it excludes these - IT DOES NOT EXCLUDE these shares once converted and DOES NOT EXCLUDE FUTURE SHARE ISSUES.”
In your post to Mike you say the targets would IGNORE NEW SHARE ISSUES but in your post to me you say the targets would NOT EXCLUDE FUTURE SHARE ISSUES. I am confused by your apparent contradiction.
Regardless, all what I can say in response to your reply to me is to repeat the clarification I got from 80M, which is, when it comes to calculating the EBT market cap performance targets of £100m, £125m and £150m, the CURRENT number of shares in issue is the one that would be used. That is, 5,305,076,045 shares registered on 27/05/26.