TruScreen corrects share allocation error, awaits approval

TruScreen has provided an update on the allocation of shares under its share purchase plan (SPP).

The company said the SPP was oversubscribed, exceeding its 10% capacity.

The oversubscribed share entitlements are subject to shareholder approval at a special meeting on July 15.

TruScreen said an administrative error occurred during the allotment of SPP securities, resulting in some shareholders being incorrectly notified that they had been issued the full entitlement of shares.

This error has now been corrected, and each investor is now recorded as having been issued the correct pro-rata entitlement within the company's 10% capacity.

Shareholders who applied for additional shares will be issued the remaining number of shares, pending shareholder approval.

The company said all unallocated funds from the oversubscription are being held in trust by its share registrar.

TruScreen's capital change notice, lodged on June 30, is accurate, and the total number of securities on issue is currently 691,068,945.