based on the wording of the SPP offer and my estimate, I think the price will be rounded up to 1.3c unless someone sells into The current bids of 1.4c to bring the VWAP down a little lower. My estimate is current price to be around 1.21c before rounding up.
”The SPP issue price will be a 20% discount to the volume-weighted average market price (VWAP) of the Company’s shares traded on the Australian Securities Exchange (ASX) over the last 5 days on which such sales were recorded immediately prior to the date the New Shares are issued under the SPP, rounded up to the nearest tenth of a cent.”
Ann: Company Presentation - July 2019 (Amended), page-81
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