FFM 4.00% 72.0¢ firefly metals ltd

Ann: Prospectus, page-9

  1. 330 Posts.
    lightbulb Created with Sketch. 21
    Issuing a small number of shares, such as the 100 shares in this case, is typically done for specific procedural or regulatory reasons. Here are a few common reasons:1. Regulatory ComplianceIssuing a nominal number of shares can be a requirement to maintain compliance with certain regulatory frameworks or listing rules. For example, it might be necessary to issue a prospectus even for a small offering to fulfill regulatory requirements or to keep the registration active.2. Administrative PurposesThis can also be done to address minor administrative errors or to ensure that the total number of issued shares aligns correctly after other larger transactions. In this specific case, the company noted the issuance of 8 additional shares due to an administrative error.3. Shareholder Approval and Meeting QuotasSometimes, issuing a small number of shares can be a formality to fulfill conditions set during a general meeting of shareholders. This ensures that all approvals and procedural requirements are properly documented and executed.4. Testing Market ResponseOccasionally, a company might issue a small number of shares to test market mechanisms or to ensure that a larger offering can be properly managed in the future.5. Legal or Contractual ObligationsThere may be legal or contractual reasons that necessitate issuing a small number of shares, such as fulfilling terms of agreements with certain stakeholders or investors.In this particular context,

    it appears to be largely procedural, ensuring all actions taken align with the requirements and conditions set forth in the initial capital raise and the subsequent approvals.
 
watchlist Created with Sketch. Add FFM (ASX) to my watchlist
(20min delay)
Last
72.0¢
Change
-0.030(4.00%)
Mkt cap ! $350.9M
Open High Low Value Volume
72.0¢ 73.5¢ 71.0¢ $510.8K 706.0K

Buyers (Bids)

No. Vol. Price($)
8 19005 72.0¢
 

Sellers (Offers)

Price($) Vol. No.
72.5¢ 28473 10
View Market Depth
Last trade - 12.58pm 26/06/2024 (20 minute delay) ?
FFM (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.