As announced on 21 April 2017, the Share Purchase Plan which closed on 20 April 2017 was exceptionally well supported, with a total of approximately $17.96 million in applications received (including overpayments of $0.13 million which will be refunded in full).
This level of applications exceeds the Company’s requirements and the SPP capped amount of $10 million, and the Board has determined not to accept applications in excess of that amount.
As a consequence of the oversubscription, the Board has resolved to scale back the issue of the SPP shares, pro-rated to 56% across all applications (being $17.8 million after refunding overpayments).
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