Any allocation to existing ordinary shareholders van only be made if there are enough shares in the 'share reserve'. This is usually 15% additional to the number on the market at last years beginning, approval then needs to be given for an increase to the share reserve at a general meeting of shareholders.
If all of the remaining share reserve has been used in this recent issue to institutions and sophisticated investors we will have to wait for a new release.
AGM not far away, there will be answers to this and other questions then,
Issuing a prospectus is the only other option, costly, slow and usually disrupts the share price too much as people scramble to take profits, raise cash etc.
From memory only: A sophisticated investor needs to be able to cough up $200,000 to participate.
Monday will give a lot of answers and trading will possibly be frantic. Happy days!
Placement at A$0.085, page-60
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Last
1.2¢ |
Change
-0.001(7.69%) |
Mkt cap ! $16.78M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.2¢ | 1.2¢ | $11.7K | 975.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 35271719 | 1.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.2¢ | 612037 | 2 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| AUZ (ASX) Chart |