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Ann: Presentation of SPD Vanadium Project Acquisition, page-5

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corlemar

202 Posts.

61

27/03/18

18:57

Post #: 32067490
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Originally posted by perdant ↑

So it's unlikely it will be a 10:1 split, more like 3 or 4:1

Issues and reorganisations affecting trading prices
7.25
An entity must not issue bonus
+
securities or reorganise its capital (in the case of a trust,
interests) if the effect of doing so would be to decrease the price at which its
+
main class of
+
securities would be likely to trade after the issue or reorganisation to an amount less than 20
cents.

Introduced 01/07/96 Origin: Listing Rule 3J(6) Amended 01/07/98
Example: An entity with a trading price of 14 cents would be permitted to reorganise its capital if the result was to increase its trading price to 18 cents. It would not be permitted to reorganise its capital if the result is likely to be any decrease in its trading price.

An entity with a trading price of 28 cents would be permitted to reorganise its capital if the result is likely to be a decrease in its trading price to 21 cents. It would not to be permitted to reorganise its capital if the result is likely to be a decrease in its trading price to 19 cents.

Cross reference: rules 2.1 condition 2, 6.14, 7.18

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Thanks @perdant ...my apologies for any confusion on my part to HC members on this forum.

TNO Price at posting: 78.5¢ Sentiment: None Disclosure: Not Held
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