RE: Proposed placing on LSE7 Jan 2019 14:18
Bondholders Presentation - direct copy and paste
The Company is seeking a fundraising of $8M-$10M on the London Stock Exchange
? Key shareholders holding in the Company (~55%) commit, within the framework of
a comprehensive plan, to participate in a total of $8M of such fund raising
? Following initial discussion with entities in the stock market it appears that the key
shareholders underwriting of $8M will support an overall fundraising in excess of
$10M
? The structure and terms of the fundraising have yet to be determined
? Reasonable timetable for a fundraising with issuance of a prospectus (required due
to the Company’s current market cap) is estimated to be 6-10 weeks from an
agreement with an underwriter.
Updated presentation:
The Company is seeking a fund raising of $13M on the London Stock Exchange
? Key shareholders holding in the Company (~55%) commit, within the framework of a
comprehensive plan,to participate in a total of $10M out of the $13M expected fundraising
? The structure and terms of the fundraising have yet to be determined
? Reasonable timetable for a fundraising with issuance of a prospectus (required due to the
Company’s current market cap) is estimated to be 6-10 weeks from an agreement with an
underwriter
? This fundraising will enable advancing a payment of between $1.5M-$4.5M together with
the completion of the funding and advancing a payment of between $6.5M-$9M to the
bondholders by the end of 2019, provided the fund raising exceed $10M
Read it Ironic