From a past Botala Energy update
"We hope to list on the ASX by mid-May 2022. Preparation of the documentation for our IPO is on schedule. The ASX is extremely busy processing a record number of IPOs and this could cause delays. ASX Listing Rules will most likely require all shares held by existing shareholders be escrowed for a period of 12 months from the date of their issue, not from the date of listing. In contrast, all shares held by Directors will most likely be escrowed for 24 months from the date of listing. GTT is an experienced, Perth-based specialist corporate advisory capital investment firm. They will invite their network of sophisticated investors in Australia and all Botala shareholders to invest in the IPO. In addition, the over 10,000 PH2 shareholders will be invited to participate in a priority IPO listing. This should readily give us the minimum shareholder spread of 300 required for a listing."
