What a great RNS!20 May 2021 11:50
Just back from the breakfast meet-up, to a lot of personal backstabbing from the usual suspects!
I will hold my hands up and confess I got this wrong on the limited info we were working from!
I thought the BOD wanted to retire, obviously, the Rosgo Joint Venture was simply too good to turn down at the last minute!
The company now looks to be selling just some assets, we all get a dividend and retain shares in EUA going forward!
Because the shares were issued at the current share price there is NO dilution, just more shares in issue and the company coffers increased by the same percentage, the only dilution will be any future dividend will be reduced by about 3.72%.
"The total number of ordinary shares to be issued pursuant to the private placement, and assuming the exercise of all of the Warrants, is 106,613,502 new ordinary shares, which would represent approximately 3.72 percent of the Company's enlarged fully diluted share capital of 2,865,315,183 ordinary shares"
So, we get something upfront in way of a dividend from selling some? asset!
We, get to keep our shares in EUA, the new battery metals company :-)
So, sorry, but to me, the RNS was just simply great, this company has changed its plan at the last minute, and we all gain even more going forward!
Our win, win, scenario, has just grown in size!
I love this company, you just can't second guess them, they do have investor's interests at heart! as they are also investors.
Ignore the negative bots and naysayers, the company has chosen a new very lucrative path for us all!
If you cannot see that, sell-out now, the long-term holders are now jumping for joy at the thought of regular future dividends from a growing battery metals company.....
Off out for my second COVID jab, I may have been wrong, but this outcome is fantastic for any shareholder going forward.
Cheers.
Oh, and well done to:-
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Oldspursfan - 20/05/21
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Although, not what we expected, it is actually much better as the BOD does not want to retire ..... Just yet!
When they do go, it will be with a Big Bang and fanfare :-)
They are not stupid in the slightest ......