K2fly: Issue of Shares Upon Conversion of Listed Options

3 min read | March 10, 2020 05:56 PM AEDT | By Team Kalkine Media

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K2fly: Issue of Shares Upon Conversion of Listed Options

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Australia-based leading Consulting Systems Integrator, K2fly Limited (ASX: K2F) has announced on 9 March 2020 that the company has issued a total of 380,237 fully paid ordinary shares upon the exercise of listed options, raising a total of $ 76,047. These listed options inlcude the exercise and conversion of 330,237 K2FOA options, at $ 0.20 each, held by Mr Brian Peter Miller, Chief Executive Officer and Executive Director.

Post exercising 330,237 listed options in K2fly, Mr Brian Miller’s total direct interest in the company stands at 2,555,241 fully paid ordinary shares. The total value consideration for the transaction was $66,047.

Prior to the above development, Mr Brian Miller had also acquired an additional 24,600 fully paid ordinary shares of K2fly at a total value consideration of $ 5,106, which increased his direct interest in the company to 2,225,004 fully paid ordinary shares. Mr Miller and his spouse, Dr Roslyn Jane Carbon, hold additional interests in the company, including:

639,019 Unlisted Options exercisable at $0.243 each on or before 26 November 2022 (subject to vesting conditions)
155,921 Unlisted Options exercisable at $0 each on or before 26 November 2020 (subject to vesting conditions)
367,920 Unlisted Options exercisable at $0 each on or before 25 November 2021 (subject to vesting conditions)
683,280 Unlisted Options exercisable at $0.291 each on or before 25 November 2023 (subject to vesting conditions)

Business Segments

K2fly now has a wide international client base inlcuding, especially for its SaaS based solutions, inlcuding Canada-based Teck Resources, leading global mining group Rio Tinto, Nexa Resources listed on NYSE as well as Toronto Stock Exchange and Glencore Canada Corporation, Westgold Resources Limited (ASX: WGX), and others. The company continues to receive interest from major global as well domestic mining houses.

K2fly Onboards 2 new RCubed Customers for Proof of Concept Design

K2fly’s Invoices Up 69% And Revenue Expands 45% in First Half FY2020

Stock Performance: The stock of K2fly is trading high at a price of $ 0.200, climbing up 8.108% midday on 10 March 2020 with a market capitalisation of ~ $ 15.28 million.

Besides, K2F gas generated positive returns of 48% in the last one year and 8.82% in the last six months.

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