From the IPO prospectus. direct from the chairman letter and the point has been raised a few times by others. The interesting thing here is that the company has said it will determine the date for issue of loyalty options ~3 months from listing which was 10th Nov 21, so you could buy them one or two days before the announcement is made and you'll get the options, so if people want a gamble they may buy the share at 20 and then get half in options and then either hold or sell shares leaving options as their play in this stock. With a 30c strike price and only 60M on issue any discovery will make holders very excited.
This Prospectus is seeking to raise a minimum of $5,000,000 and a maximum of $6,000,000 via the issue of Shares at an issue price of $0.20 per Share under the Offer. The purpose of the Offer is to provide funds to implement the Company’s business strategies (explained in Section 5). In addition, subject to completion of the Offer and listing on the ASX, the Company presently intends on undertaking a pro-rata offer of loyalty options to existing shareholders registered on a record date proposed to be on or about 3 months from the date of listing. It is expected that these options will be issued on a 1 for 2 basis, with an exercise price of $0.30 and expiring approximately two years from the date of issue. Subject to compliance with the Listing Rules, the Company also intends to apply for quotation of these Options.
DUN Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
