In the announcement of general meeting at 18.April i can read at Step 6:
>> APPROVAL OF ADDITIONAL 10% PLACEMENT FACILITY
To consider and, if thought fit, pass, with or without amendment, the following resolution as a special resolution:
“That, for the purpose of Listing Rule 7.1A, and for all other purposes, Shareholders approve the issue of Equity Securities up to 10% of the issued capital of the Company (at the time of the issue) calculated in accordance with the formula prescribed in Listing Rule 7.1A.2, for the purpose and on the terms set out in the Explanatory Statement accompanying this Notice of Annual General Meeting.”
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So if they, as the numbers indicate, generating lots of cash, why they want the approval of a further 10% placement?
Or do i fail to understand that properly?
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