RG 125.8(a) and ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547 Section 8 relate to SPP's
There is no restriction on the company offering multiple SPP's in a 12 month period, but an individual cannot purchase more than $30k of stock in that period. Effectively you'd be dudding your big holders if you went for that option twice.
I think the comment around insto's bring guaranteed 2c shares was due to the fixed price...i.e. if they applied and were successful it was only at 2c. For the average person it may not have dropped to that level.
Whilst I appreciate Phil and Ken this was a sharp discount at a very low share price. As a non-operator a chunk of blame must sit with Vintage, but it is very disappointing that our management didn't have contingencies in place.
So be it, and we move forward. Hopefully to a much higher share price before the Patriot shares are issued.
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