In the meeting notice, in regards to the resolution to raise an additional 100m over their 15% capacity, they stated that they had no immediate plans to use them and were probably gonna issue at least some for non-cash consideration from memory. This seems to be their full allowance in 1 immediate hit as a CR.
I also thought they were to be issued at no less than 80% of the 5 day VWAP, which was surely higher than 7c?
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- Ann: IOT Group completes $11.975M capital raising-IOT.AX
Ann: IOT Group completes $11.975M capital raising-IOT.AX, page-45
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