DaLatta,It's a technical point that I made,and Creat Group did...

DaLatta,
It's a technical point that I made,and Creat Group did not underwrite the second round --- Creat Group have guaranteed payment to GXY---see below(from Creat RHL)

"The Second Round
Placing has not been underwritten and therefore there is no certainty that all or any of the funds
necessary for the Further Galaxy Subscription will be raised.
The Company has agreed with Creat Group that, in the event that the gross funds raised in the Second
Round Placing are less than 17,000,000 (equivalent to approximately A$30,674,800), Creat Group
shall procure that the Convertible Loan Subscriber shall advance to the Company an amount equal to
such shortfall under the terms of an agreed form Convertible Loan Note".

I made no reference to any guarantee made by Creat Group to GXY,just whether the issue was underwritten by Creat Group.I said that I was not aware that Creat Group had underwritten the issue and they HAVE NOT.

Cheers.