IVZ 4.55% 6.9¢ invictus energy ltd

Ann: Mukuyu recognised 2nd largest Sub-Saharan Africa discovery, page-110

  1. 5,118 Posts.
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    No new raise and they can issue shortfall shares to anyone they want, which is the bit certain posters are deliberately ignoring to scare holders into thinking if the RI fails we're doomed to a new CR.

    From the prospectus with the important bit bolded:

    Any Entitlement not taken up pursuant to the Offer will form the Shortfall Offer (Shortfall Securities).
    The Shortfall Offer is a separate offer made pursuant to this Prospectus and will remain open for up to three months following the Closing Date.
    The issue price for each Share to be issued under the Shortfall Offer shall be $0.13 being the price at which Shares have been offered under the Offer.
    If you do not wish to take up any part of your Entitlement you are not required to take any action. That part of your Entitlement not taken up will form part of the 13 Shortfall Offer and potentially be allocated to other Eligible Shareholders or other third parties as part of the Shortfall Offer.
    The Shortfall Offer will only be available where there is a Shortfall between applications received from Eligible Shareholders and the number of Shares proposed to be issued under the Offer.
    Eligible Shareholders who wish to subscribe for Securities above their Entitlement are invited to apply for Shortfall Securities under the Shortfall Offer by completing the appropriate section on their Entitlement and Acceptance Form or by making payment for such Shortfall Securities in accordance with Sections 2.3.
    The Board presently intends to allocate Shortfall Securities as follows:
    (a) to Eligible Shareholders who apply for an excess of their full Entitlement, so long as the issue of Shortfall Securities to that Eligible Shareholder would not take their voting power to in excess of 19.99%; and then
    (b) to other parties identified by the Directors, which may include parties who are not currently Shareholders.
    ,
    Last edited by onthepunt: 21/02/24
 
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