New bidder enters AWE race, page-34

Hi @tubbyguts - yes you are correct it is $10,000,000

Nonetheless - from what I read under point 2 of the SPP T&C (The Terms of the Offer) - they could accept the over subscriptions just as easily as they can scale back the subscriptions.

Further, item 3 of the SPP T&C (The Terms of the Offer) also notes that, "AWE can make determinations in any manner it thinks fit in relation to any difficulties, anomalies or disputes which may arise ..." That reads to me as a rather large disclaimer that allows them to do almost anything (notwithstanding the provisions of the Corporations Act 2001).

And it is also noted in the SPP documentation (my bold and underline);
"To the extent that applications received from eligible shareholders who participate in the SPP total
more than $10 million, AWE may, in its absolute discretion undertake a scale-back to the extent and in the manner it sees fit. If it does, you may be allocated fewer Shares than the parcel of
Shares for which you applied, and excess application funds will be returned to you without interest."

"If it does" - Indeed!

Well that sounds rather optional to me. Having read the material in its entirety it is open to the AWE board to allocate all eligible holders the shares for which they subscribe. There appears little to prevent this happening should the Board so decide.

And if, as they note, "Our loyal Shareholder base has always been a great strength of AWE and we look forward to building on that."

Ok then ... well let us see what that loyalty is actually worth to this Board. Or whether, like most Boards, they are shallow words written by some 23 year old PR DH!

My dollars are in! Now it is over to you AWE Board members - let us see who you really are.