Hmmmmmmmmmmmmm!
This is for the issue of 9,375,000 shares arising out of the Somers' underwriting - @8c a share too.
So, the big question is: What about the other 6,250,000 shares?
$1.25m shares @8c = 15,625,000 shares
The 17/10 ann said this re the 9,375,000 shares ($750k @8c = 9.375m shares):
'..........a prominent professional and sophisticated shareholder has subscribed for $0.75m of new fully paid ordinary shares in Auris at $0.08 per share via sub-underwriting agreements with Somers and Partners Pty Ltd (Underwriter) in relation to the underwriting of the AUROA Options.'
So, they were done and dusted on or before 17/10 - no worries there except the delay in the App 3B for them (out today).
The 17/10 ann said this about the 6.25m shares:
'The balance of 6,250,000 fully paid ordinary shares at $0.08 per share will be allotted to the Underwriter once cleared funds are received.'
It's pretty simple to work out I think.
1. The money ($500k) for the 6.25m shares @8c either never came in or payment was not cleared.
2. HQ waited and waited for it, expecting cleared funds, and so held back the App3B.
3. Someone (x 1, x 2 x 3 ???) reneged.
4. A prominent professional and sophisticated shareholder paid $750k, so did not renege! Who was it? Will we see a Notice of change in substantial holding?
Now that that's out of the way, let's get some DHEM and assay news out please!
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