re: Ann: Offer to Participate in SXG Share Pu...
I had correspondence with the company about the maximum number of shares that can be issued with this plan. The advice I recieved said that the rules of the plan are that they cannot issue more than 30% more than the shares currently on issue - 68 million, so 30% of that is about 20.4m.
I did not see this rule in the perspectus, but I think it relates to share issues in general and whether or not you need share holder approval to go above this figure.
In any case, things are looking good. Share price is holding up and they are back to drilling.
SXG Price at posting:
10.9¢ Sentiment: LT Buy Disclosure: Held
