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To check my understanding, is it right that they can’t immediately sell the CDT shares and only sometime later in December they can sell any ?
Not the BODs
I said that from the get go. The wording was something along the lines that at ‘no point the price must be below $5 or above $15’
Phew. Thanks TG. That makes me feel a lot better actually.
So why the hell are they not exercising the option. Come on BODs it’s the most optimal time to exercise the option - what are you waiting for ?
I quote from the results update and please read carefully wording I have made CAPS :
“and the issue price of the consideration shares will be based on the volume-weighted average price per share of Conduit Inc. over the ten business days prior to the date of notice of exercise, PROVIDED IN NO EVENT shall the issue price for the consideration shares be lower than $5 or higher than $15”
The last sentence is what I’m basing this on.
I think I said before and maybe I’m wrong. The way I read the RNS implied that they can only sell if the price stays above $5 and below $15 consecutively for the 10 days. Since the price has dropped below the $5 I think try have to wait for it to go back up to $5 and remain between $5-10 for 10 days again.
I hope I am wrong !
Thinking about it, if the CDT share price hadn’t tanked post listing and say it remained over $15 till Feb (which I think is the deadline until we have to exercise the PUT) - what would happen then ?
Big gamble or they knew the CDT SP will be in this region ?
Thanks for the response.
Still not quite sure as it says "no event shall the issue price for the consideration shares be lower than $5 or higher than $15."
Regardless, have topped up :D
"and the issue price of the consideration shares will be based on the volume-weighted average price per share of Conduit Inc. over the ten business days prior to the date of notice of exercise, provided in no event shall the issue price for the consideration shares be lower than $5 or higher than $15."
It says that the CDT shares at no point in the 10 days prior to notice be lower than $5.
So if it dips below $5 then the thing essentially resets, isn't it therefore in our interest that the SP of CDT should not dip below $5!
Agree with Snowdrops also
So the MCAP on LSE is 4m, remember someone saying 2.x mil ?
got 65m myself with a high average. Looking to take it to 100m hopefully and then sit on it for years to come. Best laid plans...
Quieter than usual here.
LTH here, topped up another 5m yesterday. Hope it pays off!
dream it is, thanks for confirming mate!
lol. I know but that's what I want to confirm what people think the true value should be. People sometimes just miss the zeros :)
when people here saying value should be 0.25p do they mean 0.25 or 0.025 (just want to confirm)
something has to be brewing
topped up 7m, hope it turns one day....
knowing them, they will use that money to buy shares in Vela itself!
when anyone is talking utter rubbish one should say "you pulled a Jimmy"