ASX rules...SPP "the issuer must be reasonably satisfied that in any consecutive 12-month period, the total application price of the shares to be issued to, or in relation to, any beneficiary is not more than $15,000 (excluding shares applied for by the custodian on behalf of a beneficiary but not issued)"
Rights issue or placement would be the remaining options. Placement with a cornerstone investor with a LT interest in this part of the world would be my choice $10-15M, would like to avoid the sophs., which don't really do anything to improve the quality of the share register. As Dice said may have someone already working on this (like MacQ)?
NWE Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
