Ann: $15m raised to fund Well Test & Cabora Bassa Operations, page-91

Thanks that helps.

So it's an iterative process in a way? They will currently assume that every single shareholder will buy their maximum - giving the ~1:12 ratio

When it comes to the raise, let's say half the shareholders contribute their maximum and the other half do not buy at all - so that will be $7.5m raised

Then in that case, shareholders can apply to buy more if they wish? And it might then turn into a similar arrangement to SPP? And scaled back if they surpass the 15m?

I guess there's no point me getting my head around it now until all the conditions and how its going to work gets released