20% or so9 Oct 2017 12:22
cascade will hold in a few weeks if they take the options being 20% away from having to make a bid for a company and about 10% is a massive difference and it will bring a reaction here ...making them our largest shareholder this could be massive for us IF taken of course..... i hope it is and i think we will see a re rate and some more volume\interest here for sure. imo etc dyor
In addition to the US$2 million subscription, Cascade was granted options ("Options") to invest up to a further US$4.0 million, in two equal tranches at the same valuation as the Subscription.� The first tranche ("First Tranche") is an option to subscribe for up to 15,795,222 new Ordinary Shares (being 11.1% of the current issued share capital) at 12.66 cents each (equivalent to approximately 9.97p at today's exchange rate), amounting to up to $2.0 million in aggregate, and exercisable by 20 October 2017. The second tranche ("Second Tranche") is an option to subscribe for up to 17,374,919 new Ordinary Shares at 11.51 cents each (equivalent to approximately 9.06p at today's exchange rate), again amounting to up to $2.0 million in aggregate, and exercisable by 29 September 2018.