Immmelman,
I thought a company could only issue an additional 15% of new shares in any one year. As they have already placed some new shares in the period since the last AGM, for which I have not calculated the % issued, is your 30% available correct?.
The last Appendix showed that there are 611,154,685 shares on the register.
Perhaps you or someone else can put me right about this.
My assumption is the number available to issue, without a meeting to sanction a greater number is somewhere less than 91,000,000 new shares which would raise A$9.16m. I believe the likely applications would not exceed A$5 million as many large holders are restricted to an application of $15,000.
I believe and hope for the company that the issue will be well supported as many shareholders, including me, had requested that current holders be given an chance to participate @ the recent issue price to Sophisticated and Professional investors.
My application for my full entitlement will be lodged ASAP.
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