Onpage 2 of this Non-Renounceable Pro-Rata Entitlement Offer to Raise $54.5m EWC states that:
If the Lead Manager is requested toplace any Shortfall, the Company will pay the Lead Manager 4% of the Shortfallplaced to be Entitlement Offer Proceeds; and 2% of the number of Options issuedunder the Entitlement Offer. The options will be issued on the same terms asthose issued to Eligible Shareholders.
Does this mean that this offer isfully underwritten by the Lead Manager?
Ann: Non-Renounceable Pro-Rata Entitlement Offer to Raise $54.5M, page-2
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