Refer to page 82 in the prospectus, it speaks about escrow conditons for existing shares and shares from equity/vendor offer.
It says the following:
"New Shares and New Options under the Equity Offer are not anticipated to be subject to escrow"
"All New Shares under the Vendor Offer are anticipatedto be subject to escrow for between 12 months
from issue and 24 months from Listing".
"A portion of existing Shares are anticipated to be subject to escrow for between 12 months from issue
and 24 months from Listing."
I could be wrong, but my take is that 11.25m shares from vendor offer will be escrowed, and the difference between 25.149m is the number of escrowed existing shares? i.e. (approx 13.9m shares??).
Please correct me if im wrong.
YK
