Quite frankly, 88E made an offer of shares on the basis, first in first served. I, and many more like me accepted the offer and forwarded our payment. This completes a binding contract between the shareholder and the company.
There are no grounds to vary the offer after it has been accepted and valuable consideration has been exchanged and accepted. It then becomes a binding contract.
If subsequently it was realised that this may disadvantage holders in London, well, tough luck.
Changing the offer after it has been accepted is probably illegal and is certainly bad PR. It also disadvantages those who sent their funds in early expecting the full allocation.
Not good Dave.
Capital Raising, page-27
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Last
0.3¢ |
Change
0.001(50.0%) |
Mkt cap ! $86.67M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.3¢ | 0.2¢ | $26.83K | 13.27M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 275 | 366012091 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 610278403 | 221 |
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| Last trade - 16.10pm 01/08/2024 (20 minute delay) ? |
| 88E (ASX) Chart |