Morning Star Ltd was registered on 1 July 2019, as a company with a constitution limiting the shares that could be offered to 5 000 000 Ordinary shares (including all classes) and 2 000 000 preference shares. The company issued a prospectus dated 1 July 2019 inviting the public to apply for 1 000 000 Ordinary A class shares at $6.00 per share. The terms of the shares on issue are $3.00 on application, $2.00 on allotment and $1.00 to be called within six months of allotment before 31 December 2019. If the issue is oversubscribed the directors will make a pro-rata issue of shares and the excess application money will be applied to allotment and calls before any refunds will be given.

On 15 July, the directors also decided to issue 100 000 non-voting Ordinary B shares as fully paid to the promoters for a payment of $5.00 per share.

On 30 July, applications for the Ordinary A class shares closed.

Applications for 1 500 000 shares in total had been received with applicants for 1 000 000 shares paying the full price and 500 000 shares paying only the application fee.

On 1 August, the Ordinary A class shares were allotted on a pro-rate basis with all allotment money owed paid by the 30 August.

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