Subject to a VWAP
The placement price will be equal to the lesser of:
i) the market price as of the close of market prior to the date hereof, that is to say, AUD$ 0.045; and
ii) the volume-weighted average price of the Shares of Challenger during the thirty days prior to the Closing Date
The question is - when is (or was) the closing date? Signed the Binding Agreement on the 5th December but previously the Closing Date was described as
Closing is subject to completion of due diligence, execution of the Definitive Agreements, and necessary approvals under the ASX listing rules.
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