RE: EGM date requirement One of the requirements of the debenture holders accepting this deal is that they extend the maturity of the debentures by several months. So your calculations are wrong. Assuming debenture holders vote yes to the modified terms anyway.
So we have some time after the vote before dilution to get a better deal still if we do succeed in voting this down. So read the material please and know what's going on before spouting off in a panic as that's a long way off still.
From the Mar 12 document on Sedar.
In order to complete the Transactions, the Company will hold a meeting of the Debenture holders at
which they will be required to approve amendments to the Debenture Indenture to agree, inter alia,
that following completion: (i) neither Gold One nor AGA will be a successor corporation for the purposes
of the Debenture Indenture; (ii) no interest will accrue following the date of this announcement; and (iii)
the maturity date will be extended to October 5, 2012
and
upon not less than 40 days and
not more than 60 days prior notice by issuing and delivering that number of freely tradable common
shares of the Company obtained by dividing the principal amount of the Debentures by 95% of the
weighted average trading price of the common shares on the TSX for the 20 consecutive trading days
ending 5 days before the maturity date.
Holders of approximately 52% of the outstanding Debentures have agreed to vote in favour of the amendments to the Debenture Indenture.
So the conversion price will likely be the Average price of September assuming there is no new deal by then.