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1.67%

5.9¢ 1414 degrees limited

Ann: Entitlement Offer - Results and Shortfall Notification, page-9

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Anndy

1,743 Posts.

676

21/08/23

12:03

Post #: 69453355
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Originally posted by Coal and gas ↑

Taylor Collison has no legal obligation regarding the shortfall. Page 13 of the prospectus states that the offering is not underwritten. That means there was no guarantee that it had to be fulfilled nor that TC had to take up the shortfall. They were obligated to continue to do the best they could to sell them, that is all. There is also any ethical or moral obligation though because there is a significant fee to TC associated with this work.

But hey! Depends on what you have to work with.

In regard to the uptake, 32% subscription is pretty weak in anyone's book. There is nothing wrong with putting the best spin you can on a bad situation, but there is a point where it becomes absurd in my view. In fact to me and with my not insignificant experience, offerings follow the feeling of the market to the management, particularly in emerging technology where the product cannot be truly assessed yet, while the performance of the management can.

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C&G
"In regard to the uptake, 32% subscription is pretty weak in anyone's book."

Original prospectus offer back in 2018 was for $50M maximum subscription.
Proceeds from the 2018 float $16,307,000
Cost of offer $802,000
So $15,507,000
=
Close enough to 31%

.

14D Price at posting: 4.6¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 5.9¢		Change -0.001(1.67%)		Mkt cap ! $16.29M

Open	High	Low	Value	Volume
6.0¢	6.2¢	5.9¢	$8.367K	139.1K

Buyers (Bids)

No.	Vol.	Price($)
1	8474	6.0¢

Sellers (Offers)

Price($)	Vol.	No.
6.5¢	29796	2

View Market Depth

No.	Vol.	Price($)
1	8474	0.060
2	21774	0.059
1	15738	0.058
2	18091	0.055
1	500000	0.054

Price($)	Vol.	No.
0.065	29796	2
0.066	94089	3
0.067	28800	2
0.070	8080	1
0.075	9973	1

Last trade - 14.59pm 08/10/2024 (20 minute delay)

14D (ASX) Chart