GXY 0.00% $5.28 galaxy resources limited

gxy speculation, page-4

  1. 350 Posts.
    lightbulb Created with Sketch. 1
    If a rights issue it is at the discretion of GXY.

    The rule is "The requirements regarding non-resident security or interest holders described above essentially state that a rights issue need not be extended to residents outside Australia and New Zealand if the rights issuer decides that it is unreasonable to extend the offer to those holders, based on (amongst other things) compliance costs and the number and value of the securities or interests being offered. Those ineligible security or interest holders must then be notified of the offer and their ineligibility. They must also be notified that any renounceable rights will be sold by a nominee in Australia, and the nominee will send any net proceeds to the ineligible non-resident holders. These requirements are similar to ASX Listing Rule 7.7.

    I would say that a rights issue (which I am not necessarily expecting) would only be extended if a significant existing shareholder was non-resident (note that Creat Resource Holdings Ltd is an Australian Resident company)


 
watchlist Created with Sketch. Add GXY (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.