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Evening all. So a financier decided to give a loan to a company who is smoke and mirror!!!!!!!! Come on!!! Do they not do a due diligence before engaging with GST? So if GST is going to be deregistered then who on earth would give a loan to GST in their right mind? Food for thought. Enjoy the rest of your evening lovely people.
While others are confused whether the financing in place is right or wrong for GST, I just done my final top up for the year 197k @ .748 p and can’t wait for Jan 23 to begin the climb. ATB to all
The conversion price per new Ordinary Share shall be determined as the lower of: (i) 140 per cent. of the closing bid price of the Company's shares on the London Stock Exchange one business day prior to the relevant draw down date; and (ii) 85% of the arithmetic average of the daily volume-weighted average price of an Ordinary Share during any five of the fifteen business days prior to service or deemed service of a conversion notice, as selected by the Loan Facility provider.
Last closing price was say .925 p and first drawdown should be at that price, so lower of (.925p x 140%=1.295 p) or .85% of 5 of 15 days average (future date and price unknown). So that is my understanding of the conversion price. Looking very good and would expect a rise in sp to at least 1.30 p today or finishing the year. Please correct me if I got it all wrong.
Be good to have another attempt at 1 p this afternoon and finish the year above 1 p. Why would ppl sell when the spnis rising on small volume only trying to reach a level over 1.04 p + before the impatient started selling just because others are selling.