From the latest prelim. final report 30 June it states that that...

From the latest prelim. final report 30 June it states that that GBA will underwrite on a "best endeavours Basis" Could anyone explain what that means to the underwritng.

"On 30 July 2010 GBA Securities entered into an underwriting agreement with BPH Corporate Ltd
(BPH). GBA Securities agreed to underwrite the non renounceable entitlements offer announced
by BPH on 30 July 2010 on best endeavours basis. GBA Securities will receive an underwriting fee of
5% and management fee of 1% calculated on the total funds raised."

Ozwander