Overdue Announcement, page-14

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gmt

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08/01/21

15:16

Post #: 50038645
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Originally posted by Necdet1 ↑

This is an extract on the last ASX announcement"

"the Shares (45m) were issued at (0.01 cents) without disclosure to investors under Part 6D.2 of the
Corporations Act; = to fund raising of $450k.

Defining (or giving explanations on) above from Google are:
When can you raise funds without a disclosure document?

In certain circumstances, you may not need to comply with the requirement to provide a disclosure document when fundraising. It is important that you get legal advice about whether this could apply to you. A general summary of these circumstances is provided here. For more information see Regulatory Guide 254 Offering securities under a disclosure document (RG 254).
In summary, a disclosure document is not required when:

an offer is a personal offer, and if:

offers or invitations have been made to fewer than 20 persons in the previous 12 months, and

the new offer will not result in more than $2 million being raised in that 12 months (see sections 708(1)–(7));

Note: You must not advertise the offer when you rely on this exemption

the offers are made to specified people who are presumed not to need disclosure because of their financial capacity, experience, association
with the issuer or wholesale status (see sections 708(8)–(12));

the offers are made to current holders of the securities (see sections 708(13)–(14A));

no money or other form of payment is payable for the securities (see sections 708(15)–(16));

other disclosure regimes under the Corporations Act apply (that is schemes of arrangement and takeovers) (see sections 708(17) and (18));

the offers are made to creditors under a deed of company arrangement, if certain conditions are met (see section 708(17A));

the offer of debentures is made by certain types of financial institutions (see section 708(19)).

In my opinion those shares were offered to the top 20 shareholders. Am I correct in thinkg this way?
If anyone can share their views (withot mocking around) I'd appreciate it, thanks.....

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There was a placement fee of $20k that was paid similar to previous placement when $30k was paid , I guess it could have been a top twenty holder/s and the $20k would effectively reduce the purchase price by an additional 4.4%. Given the placement price was 1c / share the buyer/s could make a very tidy profit slowly feeding the shares back into the market at 1cent or above. IMHO

DYOR My thoughts and ramblings only
Caveat Emptor
CTO Price at posting: 1.4¢ Sentiment: Sell Disclosure: Not Held
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(20min delay)
Last 0.5¢		Change 0.001(25.0%)		Mkt cap ! $15M

Open	High	Low	Value	Volume
0.5¢	0.5¢	0.5¢	$5.51K	1.101M

Buyers (Bids)

No.	Vol.	Price($)
2	800249	0.4¢

Sellers (Offers)

Price($)	Vol.	No.
0.5¢	7872197	19

View Market Depth

No.	Vol.	Price($)
2	800249	0.004
30	21195269	0.003
11	17478693	0.002
10	15702988	0.001
0	0	0.000

Price($)	Vol.	No.
0.005	7872197	19
0.006	5417960	8
0.007	2263000	4
0.008	6372992	7
0.009	2370800	4

Last trade - 15.05pm 14/10/2024 (20 minute delay)

CTO (ASX) Chart

Overdue Announcement, page-14

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Overdue Announcement, page-14

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