RE: Email from Stuart. Part 1.9 Feb 2022 21:00
Just wanting to check I've followed this correctly:
Innomed has issued shares to individuals and institutions but this is on the agreement that for every share issued, the 'investor' will purchase 5 more at 29 cents on listing
CIC have been issued some of these and therefore CIC are commited to purchase 5 more per original share received
CIC have then decided / agreed to pass on shares in Innomed to 181 of it's shareholders. From the 181, 159 have agreed to purchase the further 5 per 1 shares whereas 22 are not as these are being purchased by CIC
The number of Innomed shares issued to CIC and the number CIC has issued to each of it's 181 shareholders is unknown however, let's say the number of shares received by a CIC shareholder was 50000 then, if they were one of the 159, they will have to purchase 250000 more at 29 cents each, which would be CAD72500 or > £42000
I'm assuming the 181 will know who they are and that, as it is CIC who are required to make the additional 5 per 1 purchase, the 159 who are purchasing themselves will have already enter into some form of legal agreement with CIC?