280m shares = $162m AUD
Maximum subscription is 51,724 shares @58c for $30k
280m shares / 51k max subscription = ~5,400 shareholders (assumes the max issue shares is [max subscription] * [shareholders])
Average required offer takeup required to hit a target of:
$50m AUD - 31%
$50m USD - 41%
I expect if the SP is anywhere near where we expect it might be this will be vastly oversubscribed
Ann: Proposed issue of securities - FFX, page-4
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