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Originally posted by Powerage:
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4.8 Shortfall – applications for Shortfall Securities (Shortfall Offer)Any Entitlement not accepted by Eligible CDI Holders under their Entitlement Offer will form the Shortfall Offer (Shortfall Securities). The issue price for each CDI to be issued under the Shortfall Offer shall be $0.90 (90 cents) while the Attaching Options will be issued for nil consideration on the basis of one (1) Attaching Option for every one (1) CDI issued under the Shortfall Offer, in each case, being the price at which CDIs and Attaching Options have been offered under the Entitlement Offer.Any Shortfall Securities not subscribed for by Eligible CDI Holders under the Entitlement Offer may be placed at the discretion of the Directors. In order for any placement of the Shortfall Shares to be exempt from the application of ASX Listing Rule 7.1, Exception 3 to ASX Listing Rule 7.2 requires that the Company must make any placement of the Shortfall Securities within three (3) months after the close of the Entitlement Offer at an issue price that is not less than the Issue Price. The Directors of the Company, therefore, reserve the right to issue any or all of the Shortfall Securities at their discretion on this basis.
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You have certainly found an anomaly, and it goes against the Proposed Issue of Securities submitted to the ASX. That suggests to me that it may be an error, and certainly requires company clarification. Perhaps someone can contact Sam Wright tomorrow?
