It maybe worth asking management for an explanation and when...

First 6 Last

Share
Profile

Follow
Zerochill

178 Posts.

11

05/05/16

11:14

Post #: 17683292
Share

Originally posted by centrenow ↑

the rights document had the below, doesn't it indicate existing shareholders should have been preferred before SI and PI?

Shortfall Securities are intended to be allocated in the following order: Rights Issue Offer Prospectus page:9 (a) Shortfall Securities up to Minimum Underwritten Securities will be issued to the Underwriter; (b) in the event that Shortfall Securities exceed the Minimum Underwritten Securities, the balance Shortfall Securities will be issued to Eligible Shareholders who have applied for Additional New Shares and New Options as set out in Section 1.10; (c) in the event that Shortfall Securities exceed the number of Additional New Shares and New Options applied for and allocated in accordance with Section 1.11(b), the balance Shortfall Securities will be issued to the Underwriters up to the Underwritten Amount; and (d) in the event that there are any Shortfall Securities remaining after allocation to the Underwriter in accordance with Section 1.11(c), the remaining Shortfall Securities may be placed at the discretion of the Directors within 3 months of the Closing Date (“Shortfall Placement”). In the event that there are Shortfall Securities remaining after the close of the Offer as described in Section 1.11(d), the Board may issue and allot the Shortfall Securities to sophisticated investors and professional investors introduced to the Company by the Company’s advisors and/or invited by the Company to participate in the Shortfall Placement.

Expand

It maybe worth asking management for an explanation and when they can't produce a reasonable one it's a very simple process, one form, to initiate an ASIC investigation, see link below.
http://asic.gov.au/about-asic/contact-us/how-to-complain/report-misconduct-to-asic/

Last edited by Zerochill: 05/05/16

KDR Price at posting: 10.5¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

KGL

KGL sniffs 19% Cu from drilling at Rockface play in NT

Climate change to drive market trends to the moon

The Big Deal: Free-to-air TV swings the axe, but will it be enough as enormous sports deal bills loom?

ITM

Fast-track assaying yields 182 g/t gold for iTech at new NT play

RHI

Red Hill Minerals Signs $6.5 Million Agreement with Peel Mining to Explore Curnamona Project, NSW

Week 27 Wrap: "Election year" is here as UK Labour win contrasts France; Trump wins immunity & annual report season hushes ASX

TVN

Tivan and EARTH AI gear up to commence fresh drilling at Sandover lead-silver project, NT

STN

Saturn’s stars have aligned for the gold explorer’s Apollo Project

LLL

Leo Lithium announces major divestment of flagship Goulamina project to Ganfeng

There are more pages in this discussion • 32 more messages in this thread...

First 6 Last

Add KDR (ASX) to my watchlist

It maybe worth asking management for an explanation and when...

Top Stories

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

KGL sniffs 19% Cu from drilling at Rockface play in NT

Climate change to drive market trends to the moon

The Big Deal: Free-to-air TV swings the axe, but will it be enough as enormous sports deal bills loom?

Fast-track assaying yields 182 g/t gold for iTech at new NT play

Red Hill Minerals Signs $6.5 Million Agreement with Peel Mining to Explore Curnamona Project, NSW

Week 27 Wrap: "Election year" is here as UK Labour win contrasts France; Trump wins immunity & annual report season hushes ASX

Tivan and EARTH AI gear up to commence fresh drilling at Sandover lead-silver project, NT

Saturn’s stars have aligned for the gold explorer’s Apollo Project

Leo Lithium announces major divestment of flagship Goulamina project to Ganfeng

Featured News