I have read their booklet. I've also read their previous booklets and they've made stuff ups in calculating percentages before (in early older estimations on other dilution effects on previous occasions in old asx announcements- at least one I've posted about) - those things are illustrative only.
Go on the words not the illustrations.
Hold in your mind for a moment the possibility that there can be, quite sensibly, restrictions on ASX small cap companies giving away too much discount on VWAPs. 20% is a pretty big discount to give away. At least 80%. So what does it apply to ?
Page 32 of the capital raising presentation - released as an announcement breaks down the discount given to the sophs.
What does the at least 80% (from exception 5) apply to ? I think it applies to either the price at 6th April or at (5 days up to) 8 May (averaged) . So whatever is the higher of those - the price must be at least 80% of the higher.
CYP Price at posting:
15.5¢ Sentiment: None Disclosure: Held
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