Working on the basis that the the FAA approval is expected to be...

Working on the basis that the the FAA approval is expected to be announced say before the 20 February 2022, what sort of Entitlement Offer do you consider would be reasonably acceptable to shareholders after the recent shamble proposals?

How about:
- Offer be available to those shareholders on the books as at close of business today (Friday 28 January 2022)
- Be the same Entitlement offer of 1 share for each 12 held at a price of .60 cents
- Have a 4 week period to offer closing date of 25 February 2022
- Have a first option for existing shareholders to purchase additional shares (with no reduction if a shareholder sells some shares to take up additional shares - some companies are doing this)
- Have no Underwriter - if SMN is confident of the FAA announcement period I feel sure market price will be higher and shareholders will support the offer strongly (it will save any more Underwriter costs)
- Have an option to extend the Entitlement Offer closing date by one week until 4 March 2022 if no FAA announcement received
- No additional part-paid entitlement option offer (they won't need the money in 24 months time if sales are as good as expected)
- In need, if this is within the rules, have SMN retain any surplus shares not taken up in the offer and sell on market over a 3 month period at a price that should be higher after FAA approval

I would like for SMN to provide a Presentation immediately after FAA approval to show the direction planned for SMN and what companies are expected to sign up. Shareholders have been left in the dark whilst all these companies are not able to commit until FAA approval is received.

Management has to work on regaining the respect and support of it's shareholders, the majority whom have stuck with them through a turbulent time.

Anyone else have a view on what they would like to see in an offer?

Just my thoughts. Do your own research.