MMR - Facts about the Shortfall Offer, page-2

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21/12/24

13:06

Post #: 77148476
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Originally posted by Justadabble: ↑

There has been repeated misinformation posted about the shortfall offer, so here are the facts:-

The Shortfall offer formed part of the recent 1:1 Renounceable Rights Issue to facilitate relisting of MMR onto the ASX.
The Rights Issue, on a one for one basis, was for 978,972,711 new shares @ $0.005 with 1:2 free attaching options (MMRO)
The Shortfall offer was attached to this offer whereby the entitlements of existing shareholders who lapsed their rights were able to be subscribed for by other existing shareholders or by 3rd parties.
The Lead Manager of the Shortfall offer was 62 Capital.
The Shortfall offer was NOT underwritten.

At the close of the Rights issue, the take up was 729,162,436 shares subscribed for.
This left 249,810,275 shares still available for subscription, the "balance of the shortfall offer"
Under the conditions of the offer, the Shortfall offer remains open until 25/1/25, but cannot be extended.
Since reinstatment to quotation, no further "application for quotation" announcements have been made by the company in respect of the balance of the shortfall offer. Therefore, the balance of the shortfall remains unsubscribed.

So what does all that mean?

Application for quotation - As per the announcement by MMR to the ASX on 22/11/24, the company sought quotation for the shares subscribed for, 729,162,436 ordinary shares. The reminaing balance of the Shortfall offer has not yet been subscribed for, and therefore have not been issued, and therefore the company has not sought quotation for the balance of the offer.
As the Shorfall offer was NOT underwritten, no obligation exists for any party, and in particular 62 Capital, to subscribe for the balance of the Shortfall offer.

Does 62 Capital have any MMR shares to sell?
I don't know, but the pre-reinstatement disclosure shows that 62 Capital are not in the Top 20 holders, so if they have any, it's not many.

Can 62 Capital sell the balance of the shortfall offer now?
NO.
These shares do not currently exist, they haven't been paid for, they haven't been issued, and no application for qoutation has been made.

So if somebody posts that 62 Capital have "hundreds of millions of shares to that they are going to dump into the market", that is false and misleading. They cannot sell what does not exist.

These facts have pointed out to the poster on several occaisions, but they persist in spreading this false and misleading information. It really does raise suspicion about that poster and why they continue to make that false and misleading statement despite knowing full well that it is NOT true. The most likely outcome is that come 25/1/25, the balance of the shortfall offer will lapse.

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Very informative a thank you.

What's also been noted - This person who continues post misleading information proclaims that they are a broker.

I suspect this is also misleading people about being a broker given the lack of knowledge they have in this area.

Or this person is a broker and is intentionally misleading people.

MMR Price at posting: 0.4¢ Sentiment: Hold Disclosure: Held
10 Upvote

2 Great analysis

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(20min delay)
Last 0.4¢		Change 0.000(0.00%)		Mkt cap ! $7.399M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
11	18390566	0.3¢

Sellers (Offers)

Price($)	Vol.	No.
0.4¢	11482817	4

View Market Depth

No.	Vol.	Price($)
11	18390566	0.003
8	10636166	0.002
10	32200000	0.001
0	0	0.000
0	0	0.000

Price($)	Vol.	No.
0.004	11482817	4
0.005	11014934	8
0.006	2685931	3
0.007	5000000	2
0.020	540000	1

Last trade - 16.12pm 19/03/2025 (20 minute delay)

MMR (ASX) Chart

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MMR - Facts about the Shortfall Offer, page-2

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