New Shares issued under the Placement (@10c) will be tradable on Monday, 21 February 2022.
I guess it is in the interest of those institutional and sophisticated investors to prevent the 5-day VWAP applicable to the SPP from declining too much below 11.5c (less 15% is 9.775c). They wouldn’t let their shares be diluted uncontrollably.
The SPP is not pro rata to existing holdings, so we can be sure that Vivienne Cheung who still holds 10+ Mil shares won’t be able to take advantage of the situation.
New Shares issued under the Placement (@10c) will be tradable on...
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