RE: RE: ideas - DILUTION The warrant issue was already known and announced back in December, whats changed is the amount and new price. So basically the massive low price dilution people didnt see coming, has arrived.
Dec 2012
EIG will be granted 100 million warrants to purchase Coalspur shares, as follows:
- EIG will receive 40 million warrants with an exercise price of 90 Australian cents, unless the five-day volume-weighted average price prior to the financial close date is lower, in which case the exercise price will be the volume-weighted average price. These warrants will expire 36 months from the financial close.
- EIG will receive 30 million warrants with an exercise price of 125 per cent of the five-day volume-weighted average price prior to the financial close. These warrants will expire 96 months from the financial close.
- EIG will receive 30 million warrants with an exercise price of 150 per cent of the five-day volume-weighted average price prior to the financial close. These warrants will expire 96 months from the financial close.