Interesting Post31 Jan 2019 15:59
whoppy30 Jan '19 - 20:01 - 11114 of 11115
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EDL can pay back the loan in cash and shares. It can also payback the loan entirely in cash at 1/22 monthly instalments of $45,000. Lind will have options over 99,568,966 exercisable for 4 years at 0.29p. Lind have agreed not to short sell any shares. They will also receive 36,000,000 shares as consideration for the loan. Lind have agreed not to hold more than 29.99% of the company. The reason today's open offer is just below 30% is Lind may take up any offer shares not taken up by shareholders. For the offer to be successful the management must ensure the sp is greater than 0.12p for it to be attractive and so they will need to issue further news.