just as a quickie response, what TAS could do is distribute in-specie, the EDEO held by TAS.
TAS has little funds.
EDE needs further funding.
EDE will be very keen to see TAS' EDEO exercised.
TAS will obviously wish to ensure the EDEO don't lapse.
So TAS could distribute the EDEO to TAS s/h on a pro-rata basis.
TAS would get the benefit of seeing its own s/h getting the benefit of free EDEO. After all, if it is in the best interests of all TAS s/h, then should be a benefit for TAS as a whole.
TAS benefits because it does not need to dilute s/h with a CR to fund the exercise of the options, or need to raise debt.
TAS benefits because it will see cash injected into EDE via the exercise of the 73.9m EDEO held by TAS shareholders - and that would see a strengthening of the financial position of TAS' major investment ie its 521m ord shares still held in EDE.
Almost a certainty that TAS shareholders would exercise the EDEO, because they have just been given EDEO for free. So to pay 3c to exercise the EDEO would be a good bet when EDE heads are mkt of 7c-8c.
anyway, just a thought.
(also, TAS currently holds 521m EDE, represents 38% of EDE. If TAS distributed all its EDEO, and then all the outstanding EDEO were exercised, then TAS would still hold about 34% shareholding in EDE.
A 34% s/h is still outright Control, because hardly anyone votes these days.
cheers
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