Here's a link to the prospectus from earlier in the year, which forms the basis of today's one:
https://www.asx.com.au/asxpdf/20180213/pdf/43rk1g8bf7bzc0.pdf
Purpose of the Prospectus
In normal circumstances, section 707(3) of the Corporations Act requires that a prospectus is issued in order for a person to whom securities were issued without disclosure under Part 6D of the Corporations Act to on-sell those securities within 12 months of the date of their issue.Section 708A(5) of the Corporations Act provides an exception to section 707(3) where an entity issues a 'cleansing' notice under section 708A(5).
The Company has been suspended from trading on the ASX for more than 5 days in the last 12 months and as a result is precluded from issuing a 'cleansing' notice in accordance with section 708A(5) of the Corporations Act.
Thus, here we are again, MNS having to go through this process so it can do a placement but still allow the sophisticated and institutional investors to sell their shares.
I guess that might show the intentions of anyone thinking about taking up a placement in the capital raising!
Albeit, last time the tranches were quite a long time in between so it seems plausible that the shares are placed, the buyers then sell on market (for a profit if they can) then put the money back into the open CR? A possibility at least yes?
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(20min delay)
