RE: Market reaction31 Jan 2023 11:57
‘Tintra will have an additional right (but no obligation) to repay the subscriptions in cash based on the market value of the underlying Subscription Shares (with a 5% premium) at any time within an agreed period. In addition, Tintra will have a further right (but no obligation) to forego issuing Shares in relation to the subscriber's request for issuance and instead opt to repay the subscription by making a payment to subscriber equal to the market value of the Subscription Shares that would have otherwise been issued.
The subscriber has agreed to certain, substantial, limitations on its ability to dispose of the Shares it receives. The subscriber is also contractually precluded from shorting the Company's Shares.‘
Looks like this is what they’re doing HH as they now have the funding on time. This was contingency on delay of the funding round (no obligation if it hadn’t arrived or there was problems they could keep it as it is) now we have the millions in the bank we don’t need to sit on it. However the selling down works in TNT favour so I expect them to close and repay any day now.
IMHO DYOR GLA BUYTHEDIP