Key changes with the new low document emergency ASIC/ASX shares...

Key changes with the new low document emergency ASIC/ASX shares issues provisions.
No prospectus needs to be prepared if eligible. Saves a lot of time and reduces costs of issue.
Emergency provision to increase placement capacity to 25% up from 15%.
There is a sunset clause and as usual plenty of fine print.
If you do not meet the conditions you can put in a special application .
Clearly ASX/ASIC are anticpating a fair amount of financial stress to come.
Basically it allows quick access to cash.
These new provisions may be a stroke of luck for BRN. I know a lot of holders fear a CR but its actually beneficial as it keeps us all in the game. The alternative is we all lose our stake.
At least if you have no funds to particpate you can chose to dilute and let other holders pay up and still keep you in the game.
So if you believe that BRN will be a success then a CR should not be a problem.
GIven the present economic situation i would expect a discount to be applied to an issue. We see discounts even in good times.
Check out a summary of the new provisions.
https://www.maddocks.com.au/asx-and-asic-introduce-new-temporary-rules-to-facilitate-capital-raising/