this came from a previous AVB announcement on 3/6/15
"Please be advised that Avanco Resources Limited (the Company) has received applications for 213,676,757 shares pursuant to the Entitlement Issue Prospectus dated 8 May 2015, raising $17,094,141 before costs. The Company has resolved to accept all oversubscriptions from existing shareholders that applied for additional shares pursuant to the Entitlement Issue Prospectus. The Company has firm commitments for the remaining 332,302,452 shares and will allot these shares when funds are received by the Company."
To me having 'firm commitments' means that someone(s) has agreed to take on the remaining shares. actually let me correct that. the use of the word firm leads me to think its not just an agreement. for it to be a "firm" commitment, there must be something to suggest that whoever it is, is a man of their word, and that it is a done deal. so 17 days later, why are we still waiting? if the commitment was so 'firm' it would of been settled by now. i know they have 3 months to place the shortfall, but if you have 'firm commitments' then either inform the market on whats pending, or sign off on the deal....
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