inxs22,Icon notifies the ASX of Shortfall Friday 15 July.The...

inxs22,

Icon notifies the ASX of Shortfall Friday 15 July.

The rights issue document makes it very clear that the Board will be giving priority to existing Shareholders.
Also my understanding is that the share registry report details the amount of time a shareholder has held Icon Shares.

So I would assume if you have held Icon shares since the float (Like me) higher priority would be given to a short-term holder. (That?s fair)

Also the Chairman is applying for over double his entitlement.
Also there is a clause which states one can apply for upto $1.0 Million worth of share.

Obviously Icons first priority is to raise the $7.5Mil and an enormous amount of preliminary work would have been done to fill any shortfall. The rights issue is not underwritten. Therefore the board would confident they had the commitment from Brokers and friends of Icon to fill any leftover.

Inxs22 please don?t forget the new management have done there homework to ensure this is an independently agreed bullet proof project and with a signed letter of intent for the plant and cashflow positive buy xmas. There would also be independent back of the envelope share prices estimates buy xmas. (My Estimate is $0.25 Plus).

Clearly I am a fan and I can see multiples of 5 maybe 10 over the next 3 years.

Sit back enjoy the ride we are in very good new experienced hands.

Please DYOR.