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Ann: Termination of Binding Agreement, page-48

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Tcb007

20,938 Posts.

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20/02/17

21:45

Post #: 22762082
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Originally posted by Names little ↑

Hi Michael, just an interested observer. Re your minimum price calc, is not the relevant part of your quote

"lower than 75% of the volume weighted average price for securities in the relevant quoted class calculated over the 15 trading days on which trades in that class were conducted"

So it's not the last 15 trading days, it's the last 15 trading days on which trades in that class were conducted, so this would be the 15 days before it went into trading halt/suspension, not the last 15 days as no trades have been conducted in that class.

So do you not need to work out the VWAP for the 15 days prior to halt and then apply the discount to that to determine a minimum raise price without approval. Looks like that would be lower than your figure

Thanks

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Last 15 days prior to suspension:

GMC Price at posting: 4.2¢ Sentiment: Buy Disclosure: Held
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