SHARE PURCHASE PLANThe Company is offering eligible shareholders the opportunity to apply under the SPP for up to $30,000 worth of Shares at an issue price of $0.02 per Share (Issue Price).Shareholders will be eligible to participate in the SPP if they have a registered address in Australia or New Zealand (or any other jurisdiction where in the reasonable opinion of the Company it is lawful and practical for the Company to offer Shares) as at 5pm (WST) on 23 September 2019.Eligible Directors intend to participate in the Offer.
The MD probably does not have any shares yet so ineligible to participate. He didn't have any shares at 30 June according to the annual report.
MD's original excercise price was too high in my view but the new price is a little too generious. 14,000,000 by 10 cents is a lot of money to get thats $1.4M.
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