Ann: Underwritten Share Purchase Plan and Top-Up Placement, page-46

I thought the structure of CRs were usually worded ‘lower of issue price, or the VWAP? I am happy to apply for 30k of shares @ 4.6c but if the shares rocketed up to (say) 30c in the last few days before issue date (which could be manipulated and above what I regard as ‘fair value’) then I can’t withdraw my application. Doesn’t seem to be quite right imo, needs clarification.

Also, what is the strike price of the options issued (and escrowed) to the underwriter?

I reckon they could have raised $5m from us HC at $4.6c, without having to pay all this dosh and options to the underwriter? We hold shares in my name, my wife’s name and in our SMSF, was intending to apply for 30k in each. Not sure if I am better off buying on market now? Certainly woulda/shoulda bought this morning @ 4.2c....if the bloody phone hadn’t rung!