I just read through the fine details of the share purchase plan and now have a question as to the % of shares people may get from what they actually paid for.
The company wants to raise 2 million and with the SPP can only allocate up to 30% of the total shares on offer. How many shares are currently on offer? And is everyone's parcels in the SPP divided equally if it is over subscribed (which I am confident it will be)? E.g. A $15,000 parcel, the person only gets $7,500 worth as a $2000 parcel will only get $1000?
Or.... does the total amount of shares you currently have impact the % of shares from your SPP parcel you will receive if it is over subscribed?
BYE Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held
