Actually here is the question I emailed the ASX as instructed to do.
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Hi my question relates to listing rule 7.2 exemption 5. It is in relation to a company Cynata Therapeutics - ASX code - CYP.
Below is an excerpt straight from Chapter 7 - Rule 7 from the ASX website.
My question relates to the bolded wording.
"Exception 5 is only available once in any 12 month period and if:
• the number of + securities to be issued is not greater than 30% of
the number of fully paid + ordinary securities already on issue; and
• the issue price of the + securities is at least 80% of the + volume
weighted average market price for + securities in that + class,
calculated over the last 5 days on which sales in the + securities
were recorded, either before the day on which the issue was
announced or before the day on which the issue was made."
What I am wanting to know is whether "the day on which the issue was announced"
would be the 6th of April 2023 as on that date Cynata made 3 related announcements to the ASX
which where
1, Cynata completes $5.0M placement and launches SPP,
2, ProposedIssue of Securities – CYP,
3, CapitalRaising Presentation
or whether "the day on which the issue was announced" is the 19th of April with this
Share Purchase Plan Booklet & Option Prospectus.
Thank you
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In my opinion, our regulators, the ASX and ASIC let us down sometimes. But I'm subjective. The person that took my call and offered to pass on my email was genuinely trying to be helpful. But nothing came of this so far. Readers can judge for themselves whether what I asked was wrong or inappropriate or just a person trying to get an answer from the ASX about something they should know about and be able to inform about as customer service. I didn't demand anything by any time - but I advised that the answer might matter by monday 5pm.
(20min delay)