The Company has appointed Forrest Capital (AFSL: 298311) to act as lead manager to the Public Offer. The Lead Manager will receive a fee of 6% of the total amount raised under the Public Offer payable on completion of the Public Offer. These fees will amount to between $135,000 (if only the Minimum Subscription) and $165,000 if the Maximum Subscription is raised. The Company has also agreed to grant 30,000,000 Adviser Options to Forrest Capital (or its nominees) for corporate advisory and capital raising services provided on completion of the Public Offer. The Adviser Options are unlisted options exercisable at $0.05 each on or before 30 June 2020. These Adviser Options have been independently valued for accounting purposes only (under the applicable accounting standards) at a value of $769,800 using the Black and Scholes methodology and the Adviser Options are included on this basis in the pro forma adjustments in the Investigating Accountant's Report.
FRY Price at posting:
4.8¢ Sentiment: None Disclosure: Not Held
