I would say you are spot on Sofiya about the capital raising
Notice of 2014 Annual General Meeting and Explanatory Memorandum
This 10% Placement Facility will
provide extra flexibility and opportunity for the Company to raise capital.
The Directors believe that Resolution 6 is in the best interests of the Company and
recommend that shareholders vote in favour of this Resolution to approve the 10%
Placement Facility.
7.2
Further information about the 10% Placement Facility
Pursuant to and in accordance with ASX Listing Rule 7.3A, the following information is
provided in relation to the approval of the 10% Placement Facility:
Minimum issue price
The issue price of ordinary shares issued under the 10% Placement Facility will not be less
than 75% of the volume weighted average price of the Company's ordinary shares calculated
over the 15 trading days immediately before:
d) the date on which the price at which the ordinary shares are to be issued is agreed; or
e) if the ordinary shares are not issued within 5 trading days of the date in a) above, the date
on which the ordinary shares are issued.
Period of the approval
If shareholders approve Resolution 6 at the Meeting, the approval to issue ordinary shares
under the 10% Placement Facility will operate from 27 November 2014 until the earlier of:
a) 27 November 2015; and
b) the date (if any) shareholders approve a transaction under ASX Listing Rules 11.1.2 (a
significant change to the nature or scale of activities) or 11.2 (disposal of main
undertaking),
(the
10% Placement Period).
RUM Price at posting:
7.2¢ Sentiment: Buy Disclosure: Held