Can anyone who has been involved in backdoor listings before please explain what the following means: "Under the ASX Listing rules, the Company is seeking shareholder approval to conduct a capital raising by offering under a Prospectus 8,000,000 Shares at a price of $0.20 per share to no less than the number of new investors in the Company required by ASX, to raise $1,600,000"
Who are the "new shareholders"? Will existing shareholders get priority to participate? If so, will this be based on holding % or will you be able to apply for as many shares as you want?
Many thanks for any help on this
SPA Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
