Ann: Application for quotation of securities - AJM, page-9

Yes, I check each day on Link Market Services but they haven't allocated the shares yet.

Once they do, then we will be able to work out the formula they used.

Hopefully this allocation won't take too long.

They are only accepting $2 million but they had applications for $3.1 which is a ratio of 0.645 or approximately 65% of the shares you applied for, but it's more complicated because firstly, all the in-specie allocations have to be allotted, and then the shortfall should only go to current shareholders first, then the others if there is any left over. I expect that AJM have their spreadsheet formula's sorted out and are crunching the numbers now.

Gw