6.1 General
Resolution 5 seeks Shareholder approval for the issue of that number of Shares which, when multiplied by the issue price, will raise up to $2,500,000 (Placement).
A summary of ASX Listing Rule 7.1 is set out in relation to Resolution 4 above.
The effect of Resolution 5 will be to allow the Company to issue the Shares pursuant to the Placement during the period of 3 months after the Meeting (or a longer period, if allowed by ASX), without using the Company’s 15% placement capacity.
6.2 Technical information required by ASX Listing Rule 7.3
Pursuant to and in accordance with ASX Listing Rule 7.3, the following information is provided in relation to the Placement:
(a) the maximum number of Shares to be issued is up to that number of Shares which, when multiplied by the issue price, equals $2,500,000;
(b) the Shares will be issued no later than 3 months after the date of the Meeting (or such later date to the extent permitted by any ASX waiver or modification of the ASX Listing Rules) and it is intended that issue of the Shares will occur progressively;
(c) the issue price will be not less than 80% of the volume weighted average market price for Shares calculated over the 5 days on which sales in the Shares were recorded before the date on which the issue is made or, if there is a prospectus relating to the Placement, over the last 5 days on which sales in the securities were recorded before the date the prospectus is signed, in accordance with ASX Listing Rule 7.3.3
Hot Trading Hot Capital
CHP Price at posting:
0.7¢ Sentiment: None Disclosure: Held
