The IPB Petroleum Limited (the Company) Prospectus dated 1 March 2013 provides a proforma balance sheet showing the financial position if the Company issued 5 million or 10 million new shares (refer Section 10, Investigating Accountants Report, page 127). The Prospectus also provides a table showing the Use of Funds assuming alternatively $2.5 million or $5.0 million is subscribed to the Offer (refer Section 2.2, Objective of the Offer and Use of Funds, page 14).
The Company closed the Offer on 19 April 2013 and received total subscriptions of $2,915,550 and has allotted 5,831,100 new shares to 354 new shareholders. As of the date of listing the Company will have 418 shareholders and a total of 98,831,100 fully paid ordinary shares on issue.
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