Yeah, I think so as well.
This is
my understanding of the CR.
Remember, there is no cap. So I will apply for as many shares as I can afford. That way, if the CR
isn't oversubscribed,
I get the full amount of shares I applied for.
BUTIf the CR
is oversubscribed,
all Hannanians will receive a minimum of $2000 worth of stock. That means you will get 57,142 shares as a minimum, guaranteed. ($2000 / 0.035 = 57,142 shares)
But, look at section C.
You will get
extra shares on top of the 57,142 shares, depending on how many HNR shares you own at the record date. Everyone will have their shares scaled back at the same ratio as per your holdings.
For example, if you subscribed for 200,000 shares in the CR & it's oversubscribed, you'll receive 57,142 shares, plus a certain percentage more based on your current holdings. So you might only get 90,000 shares out of the original 200,000 you applied for,
but you'll have more than the minimum of 57,142.
I hope that makes sense.
I'm far from an expert on CR's &
I could be wrong!!@kickit2me would probably be more of an expert on these things?
The prospectus should be sent out in the next week or two,
that's where all the details will be.HANNANS LTD (ASX:HNR) - Ann: Hannans - Expansion to Major European EV Markets, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum
