MSM 0.00% 5.9¢ msm corporation international ltd

When was the "not before 3 months from from entitlement issue...

  1. 85 Posts.
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    When was the "not before 3 months from from entitlement issue closing" announced?
    I accept that this is an interpretation and that the Listing Rules allow for shortfall shares to be placed up to 3 months from the closure of a pro-rata issue or from the date of shareholder's approval - but was that the understanding from inception or is that contained in the funding agreement and why would they need to wait out the full time?
    If so, why wasn't that made clear in the various announcements on Riva and the funding and how do you explain the 14th June announcement? You can say that announcement was only an "intention". If so - why say it at all.
    The other shortfall subscribers (those from CPS Capital) didn't wait the "3 months) - so why would Riva?
    I also have trouble with the fact that the other committed shareholders (those who pledged to take up $270k in the issue and which was announced in the Prospectus) - didn't. They only took up half and then weeks later paid up the balance. If you follow the 3B (released on the same day as the Issue Shortfall notification) you can clearly see that the bulk of the $270k was from the 3 Directors. Why wouldthe Directors not honour their commitment?
    There are "turn back" road signs everywhere
 
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