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Ann: Volt to Launch Capital Raising, page-181

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DreamCatcher

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07/09/17

12:16

Post #: 27059298
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Originally posted by sunsetsgirl ↑

Agree Possum, the other discussion point that keeps getting raised is about a rights issue, in which there is none!

I have to thank Dreamcatcher on getting me to research the difference between the 2 equity raise options.

As I read it the Volt equity raising is a Share Purchase Plan (SPP) with $15k limit.

Apparently there is a range of equity options out there to asx listed companies which include:

- a placement, under which sophisticated or professional investors subscribe for additional shares.

- A Share Purchase Plan (SPP) under which all existing shareholders may subscribe for up to $15,000 worth of additional shares.

- A dividend reinvestment plan (DRP) which permitd shareholders to use their dividend entitlement to reinvest in additional shares in the company.

- A rights issue (or entitlement offer) in which all existing shareholders are offered the right to subscribe for additional shares in the company on a pro rata basis having regard to their existing shareholding. Rights issues may be renouncable or non-renounceable.

So we do not have a rights issue.

I took into account what Names has stated with regard to the board members each being able to buy in $300k each, so even if 100 of the 3000 odd shareholders decided to buy in $15,000, they would have the $1.5m or more.

Im certainly not going to sell now thinking I may get cheaper later. And why do I think this? What if they got the funding beforehand? The SPP might get cancelled or share price rises on the back of a good announcement before the SPP date, locking me out of that profit I thought I would make. Just my thoughts anyway.

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The point of that post that mentioned a rights issue was the comment on sub underwriting. I was unable to find a reference to sub underwriting and a SPP, but in essence, a sub underwriter has the same role in both instances.

I hope you read and understood the bit about sub underwriting as that's important as far as what the two directors roles are in this CR.

VRC Price at posting: 1.6¢ Sentiment: None Disclosure: Not Held
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Ann: Volt to Launch Capital Raising, page-181

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Ann: Volt to Launch Capital Raising, page-181

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