The Entitlement Offer will include a top up facility under which eligible shareholders who take up their full Entitlement will be invited to apply for additional New Shares (and attaching New Options) in the Entitlement Offer from a pool of those not taken up by other eligible shareholders.
Here comes the Steini-Plan:
Buying 100k shares at .6c to satisfy the ASX minimum $500 rule. Then applying for 40k shares to satisfy the " Full entitlement up take " - criteria and then, if I want to, applying for millions of shortfall shares, if still available.
So, if Steini can do it to qualify for the shortfall that way, then anyone else, even a big pocket outsider, could do it too.Just the record date so far out after the anns is very unusual for small cap stock. Normally it is done when dividends are announced, but not for a minnow stock raising funds.
Maybe just some silly thoughts from the Evil-Steini, or maybe deliberately designed that way?
CHM Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
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