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Basileus

2,158 Posts.

400

11/12/17

17:48

Post #: 29544872
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Originally posted by nammuldi ↑

agreed - i read that a SPP is limited to the specified $10m and the new shares can be distributed as AWE sees fit.

in ann rpt there are 17,669 shareholders - ouch - if they all want a piece of the SPP worth $10m - we each get 1131 shares each if my maths is correct on a pure $10m/17669 @ 50c each.

obviously it will not come to that but the share price divergence will ensure any who can will attemtpt to buy some if not all their possible entitlement.

hard to see the SPP now being that good a deal - bugger!!!

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Hi @nammuldi

I think if the SPP were capped at $10m then the scale-back is not an optional item.

At present and as per the SPP document, "AWE may, it its absolute discretion ...".

If, the SPP was in fact 'capped' then that 'discretion' is no longer absolute and is removed and the word 'may' has to become 'must'.

Hope that makes sense.

Just my interpretation.

AWE Price at posting: 85.0¢ Sentiment: Buy Disclosure: Held
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