Ann: Successful Share Placement and SPP Offer , page-25

kam1888

I would say a scale back is on the cards.

Your sums are fine.... if 400 shareholders apply for the full $15k, which you would definately do if because there is profit to be made, then the $6m will be raised. Not sure how many shareholders are on the CXY register, but I know that personally I have 4 seperate shareholdings that I look after that are entitled to participate, and I will be applying for full entitlements, so If more than 396 other shareholders do the same then I guess we will have a scale back.

I would caution against selling CXY shares to take up the offer and buy them in the SPP as it is highly likely that the offer will be scaled back.