Following is the excerpt from the letter sent by the VA.
Clarifies how much was raised in the SPP in November/December 2008.
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So that shareholders would not be prejudiced, in the event the minimum subscription necessary (of $10m) was not raised, the application moneys received were to be returned to the applicants - which eventuality, I note, occurred since, notwithstanding the extension and the Chairman's remarks, the uptake was somewhat less than $4m.
In those circumstances, I do not see the merit in repeating that process.
VCR
ventracor limited
