rights issue, page-24

balilow and 5hareholder:

"Correct balilow. Jason is with Okap, which could be confused with Oracle by those who have had a long day and aren't on the ball"

Prospectus 6.2.2 Oracle Securities (as Komodo's nominee)(underwriter)

Underwriter agreement and the Komodo Mandate (ie. underwriter's fees form part of the fees payable to Kommodo under the Komodo Mandate)

6.3 Notes 3. Mr Brewer being a director of Komodo Capital.

6.2.2(b) The underwriter may terminate its obligations

6.2.2(b)(a Indices Fall. The ASX200 Index at any time after Underwriting Agreement (21st April) 10% or more below its respective level.


Thus the underwriter can already back out of the agreement re "fully underwriten". Now if shareholder uptake is not very good, would the underwriter commit by purchasing above market, a very large parcel of unwanted shares? That is the big question.

In reviewing prospectuses, the underwriting agreement should be one of the first really important items to understand.