Ann: Cleansing Prospectus-MXC.AX, page-17

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PeterKing

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07/09/16

15:35

Post #: 18997224
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Originally posted by MeToo ↑

It is a "cleansing prospectus" Read the prospectus item 5 and note "(including prior to the date if this prospectus)"

"5.1
* The primary purpose of this Prospectus is to remove any trading restrictions that may have attached to Shares issued by the Company prior to the Closing Date (including prior to the date of this Prospectus).
*
* All of the funds raised from the Offer will be applied towards the expenses of the Offer. Refer to Section 8.8 of this Prospectus for further details relating to the estimated expenses of the Offer."
* -----
* -----
* It is to remove restrictions on existing shares, so what restricted shares are there? The only restricted shares that I can see are the escrowed ones. 
* This little exercise has estimated costs of $4k to raise $1 so someone WILL benefit from it.

Maybe Brett could explain the exact reason for this prospectus?

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Maybe Brett could explain the exact reason for this prospectus?.........Why?

.........– this is all about the ASX and its rules & regs plus a bid for them to grab some fees and feed the paperwork zombies to boot! This is in preparation for the meeting on the 27^th wherein, amongst other issues, will be the approval of issuing of options to shareholders who participated the recent CR.................... all good positive stuff moving forward.

MXC Price at posting: 4.1¢ Sentiment: Buy Disclosure: Held
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Ann: Cleansing Prospectus-MXC.AX, page-17

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