details of SPP from ASX Announcement (ASX: AXE) 7 October 2021 Share Purchase Plan Offer Document
"3. Raising Amount and Scaleback The SPP is targeting to raise $5,000,000, however the Company reserves absolute discretion regarding the final amount raised under the Plan. If total demand for the SPP exceeds $5,000,000, then the Company reserves the right to: (a) elect to increase the amount raised (subject to the maximum amount permitted under the ASX Listing Rules); or (b) close the SPP early and scale back Applications. When determining the amount (if any) by which to scale back an Application, the Company may take into account a number of factors, including the size of an applicant’s shareholding, the extent to which Eligible Shareholders have sold or bought additional Shares after the Record Date and the date an Application was made. Eligible Shareholders are therefore encouraged to submit their Applications early"
3(b) explains how the Company will consider Scaleback
AXE Price at posting:
$1.50 Sentiment: Buy Disclosure: Held
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