News out today detailing another premium placing with current and former Director participation and fresh capital (including from ourselves) sends another strong signal to the market as to the belief in finally a conclusion being on the visible horizon that, in the words of Chairman Henry Bellingham on the 3rd of June, is likely to be “transformational” for shareholders.
We believe there now to be more than adequate working capital in the company to see any such deal to conclusion including legals attached to any such deal and also anticipate further warrant conversions in the weeks ahead that are now meaningfully in the money and could add a few hundred thousand to the company coffers.
In short, the countdown is now on to get a deal over the line. Management have the capital, a seeming willingness to finally conclude on the Veloso’s part and, most importantly, as relayed HERE – one that is accrettive to CURRENT shareholders. Key line being – “The Board’s objective is to deliver meaningful value to current shareholders and minimise future dilution.”
We would not be surprised to see a run in the shares in the weeks ahead as investors speculate on this hoped for conclusion.
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