EMC 0.00% 11.0¢ everest metals corporation ltd

Ann: Section 708A Notice - Tranche 1 Placement Shares, page-3

  1. 5,608 Posts.
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    It means those rich investors ( not me ) who were allocated placement shares in part 1 of a 2 part capital raise, can now sell them . They were allotted their shares at a discounted price of .006 . Once they new shares hit their trading account , they can sell them on market , for example at today’s closing price, at a profit of 16.66% , that’s if they can find enough buyers, or alternatively , they can stay on as shareholders , until the Management proves its mettle and gets the party started. Hope that clarifies things a bit.

    for your information, to gain share allocation at a discount, ( sec. 708 client ) you have to be a client of a broker , earn$250k a year, and have $2M in assets.
 
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