Aleph convertible loan expires soon3 Jul 2024 22:49
"The syndicated Convertible Loan is unsecured, convertible at any time at the option of the individual lenders and repayable 364 days after the initial drawdown of the Convertible Loan is made. The conversion price is approximately 4.5 pence per Ordinary Share (or, if lower, the lowest issue price for any Ordinary Shares issued during the life of the Convertible Loan). If conversion occurs within ten business days of maturity, the conversion price is approximately 6.6 pence per Ordinary Share"
If they convert within 10 working days to maturity date then price is 6.6p to convert. By next friday it is 4.5p to convert. Aleph imho wont be converting, where will sdx get funds to repay $3.25m..
Aleph have destroyed shareholder value. WG money has likely dissappeared, $7m disposal, $2.7m paid to erbd loan, $2m put in escrow for tax liabilities, rest for wages and admin cost.
Truly shafted shareholders now, i cant see aleph converting.