I tried phoning the company again but apparently it's a public holliday in Qld. I'll phone tomorrow. I re-read the prospectus and as far as the shortfall goes, this is the quote
In the event that there is a Shortfall in subscriptions (including any Shortfall existing after taking into account applications for Additional Shares under Section 2.3 of this Prospectus), under the Issue, the Directors reserve the right, as contemplated within the Listing Rules, to allocate any Shortfall of New Shares (and Attaching Options) in their discretion so as to ensure a maximum amount of funds are raised.
It looks to me like the company decided to give all the shortfall to someone other than the shareholders who applied for them. It's disappointing when the directors don't look after their own shareholders. I'll ask a director why they did this if I can get any of them to talk on the phone.
QOL
queensland ores limited
