Intersuisse have a right to allocate the shortfall however they see fit, so they dont have to take up the shortfall they can allocate it to people who want extra. The share price I believe has closed under 9c for two days in a row triggering another get out clause. So we know there have been lots of get out clauses.
Also after the rights issue mantle agrees to pay 6% of the total amount raised to intersuisse.
Interestingly though another clause could be triggered aswell if a person aquires 20% of the company, hmmm maybe a JV with exergen has triggered this clause.
So under section 8.2 of the prospectus, there gave been so many get out clauses triggered, so I believe it likely the terms will be changed regarding the rights issue.
However I agree (hope) there is more to it then intersuisse terminating the underwriting agreement.
My opinion and my understanding of the prospectus.
MNM Price at posting:
8.9¢ Sentiment: Hold Disclosure: Held
