Yep.. it is... companies use this form of discount when there is...

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stardestr0yer

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17/10/22

13:28

Post #: 64235140
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Originally posted by ribeye: ↑

I wouldn't have thought 2.5 cents would be legal and wouldn't be surprised if this was just more made up rubbish by AFR journos!!!

But doesn't matter what price it's to much for this corrupt mess.

7.1A.3 Any +equity securities issued under rule 7.1A.2 must be in an existing quoted +class of
the +eligible entity’s +equity securities and issued for a cash consideration per +security
which is not less than 75% of the +volume weighted average market price for +securities in that +class, calculated over the 15 +trading days on which trades in that +class were recorded immediately before:
(a) the date on which the price at which the +securities are to be issued is agreed
by the entity and the recipient of the +securities; or
(b) if the +securities are not issued within 10 +trading days of the date in
paragraph (a), the date on which the +securities are issued.

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Yep.. it is... companies use this form of discount when there is a rights issue to bend the arm of it shareholders to take up their rights or else be diluted heavily!

BFC Price at posting: 6.2¢ Sentiment: None Disclosure: Not Held
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