RE:RE:RE:RE:Glencore you still didnt get it, so here again:
you wrote
"During a 100 share offereing, glencore can purcahse 26 shares"
this implies that 100 = 100% of shareholders got shares. And that is not true.
Shares were sold to some shareholders, but not all. Management decided how many shares were offered to you and if shares were offered to you.
So once again the following maths example:
You have 1.000.000 shares. GC owns 250.000 shares
Now you offer 200.000 new shares.
But management choses to offer 100.000 shares to GC and the rest to some other shareholders.
Result?
1.200.000 shares altogether with then 350.000 shares owned by GC.
Before: 25%. Afterwards: higher
Got that now?
Now you may say:
But it is not true that shares were offered only to some. But yes: it is true.
And yo may argue that it is not true that management decided about who will receive an offer and how many shares... but still: thats true as well.
To make one thing clear: I supported that decision (to sell stocks) and think TV has a very good management. I also support (if necessary) another capital raise in autumn, as I know, Ricus, Brendan, Derek etc. will make a good job with the extra money.
And I dont have anything against Glencore acting "egoistically": "its the economy" and not the Red Cross. Everyone can follow his best interest and giving out warrants maybe was the only way to get Glencore convinced to participate in the offer. And an offer has to be good enough for the buyer to buy it of course.
So I am not complaining here. Just wanna help everyone to understand that there might be a capital raise even though the company could maybe do without it. And why that could be.
And I now let it be with the conversation about mathematics. It puts too much importance on things (capital raise, Glencore etc.) - we should concentrate on tomorrows presentation, listen to Ricus and Brendan and most importantly the future for the next months and maybe 2022.
It ll be an interesting time and - sooner or later - TV share price will be lifted to 0.46 or higher. It all depends on some important funds coming back as co-investors here. Once that happens, all warrants will be exchanged or bought by long-term investors and the "selling barrier" of 0.23 will be history.