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14:14
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Originally posted by Poodleface:
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Hi guys.. Eligible Shareholders who participate in the SPP Offer are also entitled to one (1) free attaching unlistedoption (SPP Option) for every two (2) New Shares subscribed for and issued under the SPP (SPP OptionOffer). The SPP Options will be exercisable at $0.11 (11 cents) and will expire on 7 July 2027. Each SPPOption gives the holder the right to subscribe for one New Share upon exercise. The SPP Options will notbe quoted on ASX. The SPP provides you with an opportunity to acquire up to A$30,000 of new fully paid ordinary shares in the Company (New Shares) at the issue price of $0.072 per share, with one free attaching unlisted option exercisable at $0.11 each on or before 7 July 2027 (SPP Option). Each SPP Option gives the holder the right to subscribe for one New Share upon exercise
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Yes, that’s right with slight correction though. For every 2 shares that you are allocated, not applied, you’ll get a free option that is exercisable at 11c. However, like you said, why pay 7.2c when you can get shares at ~10% cheaper right now, no brainer that. Still 5 trading days left until the 1st when the SPP closes, I’d say the SP will probably be a bit higher that 7.2c by 1st July … or will it considering that it’s the EOFY and punters might be dumping shares to take losses. Bad timing indeed for the raise.
