AS1 0.00% 1.0¢ asara resources limited

Ann: Cleansing Prospecuts, page-4

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    It's an administrative tidy-up of the share placement that was announced on 18-Mar-2020. The Appendix 3B from that date mentions a parcel of 100 shares. It would appear that the company forgot to issue a prospectus for that parcel, or didn't realise one was necessary. Chances are the recipient of the 100 shares is in a different jurisdiction from the others so wasn't covered by the original prospectus. And yes, the cost of leaping through the legal loops would have far outweighed the $0.60 the shares were worth.

    It's also possible that this small parcel is related to the acquisition of the Goueli and Margou permits. There was some weirdness about that transaction due to legal restrictions with issuing shares to Burkina Faso citizens.

 
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