Great news, an II has just invested $10.5m at 22.5p18 Aug 2020 08:40
I think it's good news IMO. Cash in bank, the derampers can't say we'll run dry with $10.5M in our bank.
We have an II onboard that sees a great ROI from their purchase price of 22.5p. They are professional investors and like what they see. They paid market price, no discount - how often do you see that happening!
It sends a message to bidders 'we're not sitting around while you negotiate mega loans with your banks'.
And only 1.23% dilution, which is a p i s s in the wind given that we're now more financially secure than we've ever been.
It's a positive RNS, well done to the BOD for having a great strategy that adds strength to our negotiations.