ELK elk petroleum limited
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in breach of asx rules

  1. davo22
    4,837 Posts.
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    27/04/09
    13:52
    Post #: 5057206
    The announcements mentioned ELK had received special consideration to increase spp to $10,000...no mention of them getting special consideration to place the shares at a lower price than allowed......Does this mean that ELK are in breach of ASX rule 7.1 exception 15......by my count that should mean the SPP should have been at 11c....

    "The issue price of the securities is at least 80%of the average market price for securities in that class..The average is calculated over the last 5 days on which sales in the securities were recorded...."

    ELK Price at posting: 10.5¢ Sentiment: None Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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