CMO cosmo metals limited

Ann: Change of Director's Interest Notice x2, page-7

  1. 67 Posts.
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    The directors have committed to the shortfall of share according to the prospectus.

    "2.11 Sub-underwriting by Directors As at the Prospectus Date, the Underwriter has procured sub-underwriting commitments to the Shortfall to the Entitlement Offer from the following Directors (or their associated entities):
    Director Sub-underwriting commitment:
    Peter Bird 1,000,000 New Shares and 250,000 New Options.
    Sub-underwritten Amount $15,000 Ian Prentice 3,333,333 New Shares and 833,333 New Options.
    $50,000 Ranko Matic 2,666,667 New Shares and 666,667 New Options. $40,000.
    The allocation of the Shortfall to any Director or Related Party of the Company will be made subject to the Shortfall allocation policy described in Section 2.13."

    About 70% was taken up in the rights issue, so there was a 30% shortfall.
    Those directors committments mean that the should receive about 30% of what was applied for in the sub-underwriting,
    provided the underwriting was allocated on a proportional basis.

    I am only going by my committed to the underwriting which was reduced to 30% of the original amount after original acceptacence.
    (Many holders took up shares in the right issue as I did, which then lowered the obligation for subwriting.)

    Hope this helps.



 
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