at the very least to get 300 shareholders to stay listed in Pt Moresby which begs the questions:
1. how many shareholders do they actually have; and
2. have they breached the ASX Listing Rules (which require you to have a minimum of 400 shareholders. Woops!)
So, last SP 9.1 cents, a discount of 15% permissible without shareholder approval which would of course equate to a placement at 7.735 (lets make it 7.8 cents) if the SP holds.
PS I do know the answer to question 2 but you can work it out yourselves!
ROFLMAO
placement coming according to swiriduk
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