-----Extract from replacement prospectus-----
None of the Shares issued pursuant to the Public Offer are expected tobe restricted securities. All Securities issued to the Lead Managers (ortheir nominees) are expected to be restricted securities.
The Company anticipates that upon Admission approximately 3,750,000Shares will be classified as restricted securities by ASX (including2,700,000 Shares restricted for a period of 24 months from quotationof the Company’s Shares on ASX, and 1,050,000 Shares restricted for12 months from the date of issue of those Shares) which comprisesapproximately 4.63% of the total issued Shares (based on the MinimumSubscription and assuming no Options exercised).
Metals X proposes to hold in voluntary escrow and not sell 15,000,000Shares (being 75% of the 20,000,000 Shares issued to Metals X underthe Public Offer) for a period of 12 months from the date of Admission.
I think that because most MLX shares are in escrow. Therefore, the effect of NC1 SP on MLX will be smaller compared to BSX.
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