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thanks bud, more clear now. I guess the best option is to keep...

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MarioPizza86

114 Posts.

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08/12/22

14:12

Post #: 65220953
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Originally posted by lemonwasher: ↑

Perhaps Mario
There is a 'scale back' provision in the SSP, from the Announcement to the ASX:

"Oversubscription & Scale back details
Will a scale back be applied if the offer is over-subscribed? yes
Describe the scale back arrangements
If the SPP raises more than $8 million, the Company may decide to accept applications (in whole or in
part) that result in the SPP raising more than $8 million. If the Company decides to conduct any scale
back of applications, the scale back will be applied on a pro rata basis to shareholdings of participating
eligible shareholders at the record date for their SPP"

I read this as the greater the number of shares an applicant held on 6 November, the smaller the 'scale back', or if you held 5 million you would be scaled back more than someone holding 10 million. So, selling a total holding of 5 million shares and applying for the $30k - 5 million max, you might end up with less than 5 million. Any scale back will depend on more than $8million being raised in the SPP. (If anyone only holds Options, they will not be able to participate in the SPP.)

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thanks bud, more clear now. I guess the best option is to keep my shares and buy more to bring the average down

XTC Price at posting: 0.6¢ Sentiment: Hold Disclosure: Held
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