I have been doing some research on that. It seems to me to be a maximum of three months that the company can hold your money, which is a bit of concern for us maxed out people.
I refer to page six of the booklet:
"The Directors reserve the right to allot and issue shares under the Top Up Facility at their discretion and to place any Shortfall Shares at their discretion within 3 months of the Closing Date, in accordance with Listing Rule 7.2"
If you google "listing rule 7.2" and choose the right return, you can see that there is some precedent for the witholding of your money for up to three months.
Now I have no experience with this other than just what I have written, and so if anyone here on HC is able to elucidate the query, please do so. In reality, Three months is a bit long for me - I can perhaps do a bit better on the risk - reward scenario.
Anyone?
Stu
PNA Price at posting:
$2.10 Sentiment: LT Buy Disclosure: Held
