If the term sheet stated $500k will be taken up by Directors then would expect one or.a combination of them to fulfil the minimum. 2.174m shares.
The notes state "upto" for each Director. So no obligation to take their individual amounts.
JP Qty is the $500k.
The last raise they ended up taking just over 8,000 shares more than the amount stated in the term sheet. Well short of the SH approved amount.
Ann: Notice of General Meeting & Letter to Shareholders, page-118
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