Below is what's from the anns, which gives the firm great flexibility to pick and choose... it doesn't say definitely not first in first served (option 1 to close early). Guess it will be up to Mike to decide depending on how much fund he receives and then evaluate the options. My guess is option 3 > option 2> option 1 if the goal is to make the full use of the CP. If he wants to balance between the fund raising amount and dilution, then maybe option 1 or 2.
The SPP is targeting to raise up to $2 million. If the total demand for the SPP exceeds $2 million, then the Company reserves the right to close the SPP early and/or scale back applications or to increase the amount raised under the Plan (subject to the maximum permitted under the ASX Listing Rules).
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- Ann: Share Purchase Plan and Application Form
Ann: Share Purchase Plan and Application Form, page-44
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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1 | 5344 | 7.5¢ |
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No. | Vol. | Price($) |
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1 | 5344 | 0.075 |
3 | 77566 | 0.074 |
1 | 100000 | 0.073 |
3 | 33889 | 0.072 |
3 | 83400 | 0.071 |
Price($) | Vol. | No. |
---|---|---|
0.077 | 163298 | 1 |
0.080 | 194 | 1 |
0.081 | 22855 | 1 |
0.090 | 100000 | 1 |
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