Ann: Renounceable Rights Issue Update and New Prospectus, page-99

stevenjd. You state and ask.

"I just can't fathom this .
If they were low on cash - how could they pay over 1.6m fee ?"


The answer is they didn't, according to the spread sheet I received from Havilah. The $1.6 million was simply an offset account set up and held by Bergen (only paid to Havilah if shareprice was a certain points over 20 ensuing months).
The spreadsheet facts go on to show HAV share price would have to been @ $0.39 cents for the next 20 month period. Then if this became the case, it would made the Bergen Effective Subscription price of $0.33 cents per share As the ASX headline stated.

What the FACT's show is Bergen have been issued 6,565,569 shares plus 800,000 options for an effective Share Price of 0.07 cents per share @ purchase.

I just wish more people would take the opportunity to get hold of the Havilah Spreadsheet that exposes what has really gone on here. After all shareholders it's your company you should know the truth.
If more shareholders took an interest in their companies practices, then just maybe the ASX market place would not be treated as, just a bunch of suckers as it all too often is.