hi pgorton,
when i first read the letter i assumed that it was just the standard thing to say re:directors can close priority offer early.
but what has struck me is that there is no upper limit it seems, unlike spp when its $15k...so concievably if a number of bigger holders take up early and well over entitlement then it could close early...also KOR itself is entitled to buy and they didn't rule that out. so i guess leaving it to the last minute is not a good idea.
melrose gold new ipo, page-8
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