below 30c here we go, page-7

Upto 15% without approval, which is the 15% IFE offloaded to brokers. IFE couldnt allocate more without approval.

However IFE can as it has done annouce a rights issue. What we will find from that is that all share holders get the choice to participate. If you dont, then any not taken up will get placed by the company afterwrds. See what happened earlier this year. So its likely that in IFE case they have plans to offload all shares, but give every shareholder the right of first refusal. Not a bad idea really.

But with TRF in the AGM they made a request to issue more, but I have no idea for what purpose.

From the TRF AGM announcement:



Authority to Issue Further Shares

To consider and, if thought fit, pass the following resolution, with or without modification, as an
ordinary resolution:
?That for the purposes of ASX Listing Rules 7.1 and for all other purposes, approval is hereby
given and the Directors be authorized to make placements of up to 12,294,000 fully paid ordinary
shares at a price(s) to be determined by the Board of the Company, but not at less than 80% of
the average ASX market price over the five days on which sales in the securities were recorded
proceeding the date of such placement(s), within 3 months from the date of this meeting to such
professional and sophisticated investors as the Directors may determine, as defined in the
Corporations Act, other than related parties?.