para 11.3 of the 2004 prospectus concerns me. This talks about the preconditions that TIS must satisfy for the IP to be transferred from QUT to TIS and section (f) states "the shares have been consistently traded for a minimum of 6 months on ASX at a weighted average value of at least twice the offer price". I don't think this happy situation has occurred and is less likely every time we raise more equity capital. This may turn out to be a legal nicety that is rendered obsolete with the passage of time (11yrs so far!) but I would feel better if this could be clarified by the company.
What are your thoughts on this?
TIS Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
