EDE eden innovations ltd

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No there wasn't any mention of the CR being an option but can...

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rolling

2,200 Posts.

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28/02/18

15:04

Post #: 31418554
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Originally posted by jake0002 ↑

Goodaye Rolling - the way I read the announcement, there was no mention of any Optionality re the issue of the new shares.
RZ made a comment along those lines.
And that was what was so confusing.

"Eden Innovations Ltd (“Eden” or “the Company”) (ASX: EDE) is pleased to announce that the
Company has agreed to make a placement to institutional and sophisticated investors, of
approximately 56,500,000 ordinary shares at an issue price of 11 cents per share, to raise
approximately A$6.2 million (before the costs of the issue)."

so EDE has "agreed" to make the Placement --- but it does not exactly say that the other side has agreed to subscribe for the shares.
It really is a bull... of a statement isn't it?
It is not unequivocal.

i think there was a "timing" issue re the delay to issuing the Placement shares - and I reckon it is to do with the H/Y report. Hey, maybe that's the "conditional" nature of what Rolling is getting at??

*** Actually - is there a limitation (ASX or ASIC) re the issuing of shares so close to the H/Y Report???
That would explain everything!

And the fact that the shares won't be actually placed/allotted until today (28 Feb) is curious, but indicates to me that Bell did not have firm comittments for these shares.
And it's not Underwritten by the sound of it.

Having said that, I do have confidence that we WILL see an announcement today of the successful raising of funds.

If we don't see it in a Appendix 3B, we will see an announcement of the raising, or we will see a statement in the H/Y report.

Expand

No there wasn't any mention of the CR being an option but can you read the announcement any other way?

Do you honestly believe that if shite hit the fan in the past 2 weeks that EDE would successfully complete the CR?

Let's get real.

Cheers

EDE Price at posting: 11.5¢ Sentiment: Hold Disclosure: Held
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