The Company’s share purchase plan which has raised approximately $4.3 million.
Under the SPP, the Company will issue approximately 312.3 million fully paid ordinary shares in the Company at an issue price of $0.014 per share. The Company is pleased to note the strong support from existing shareholders, which resulted in applications being received totaling approximately $4.8 million. Under ASX Listing Rules, the Company can issue, as a maximum number of shares, approximately 312.3 million, being 30% of its issued capital on 14 September 2017.
Therefore, it has been necessary to apply the “first in -first served basis” as was specified in the SPP Offer document dated 14 September 2017 and some subscribers will be scaled back based upon this policy.
PIO Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
