YAR 0.00% 0.3¢ yari minerals limited

A means to estimate our shortfall allocation is not revealed in...

  1. 624 Posts.
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    A means to estimate our shortfall allocation is not revealed in any way what so ever.

    The release only says "The Company has applied the scale back in accordance with section 3.11 of the Prospectus"

    The release does not even tell us how many $s in total were sent in. This amount alone is valuable for the market to know as a measure of the confidence of the existing CZL share holders in the company's future.

    Section 3.11 of the Prospectus looks to be an actuarial nightmare for CZL to work through, if it were to actually calculate the scale back in accordance with all the variables described :-

    "When determining the amount (if any) by which to scale back an application, the Company and the Underwriter may take into account a number of factors, including
    - the size of an applicant’s shareholding in the Company,
    - the extent to which an applicant has sold or bought Shares in the Company
    -- before and after
    -- both the announcement of the Offer and the Record Date,
    - as well as when the application was made."

    Seems the scale back is being applied in a way that can only ever be fully known by CZL.
 
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