I have to agree ds, has become standard but I don't agree with doing it every year. IMO they aren't short of cash for the everyday running of the business, which means if they need cash it is for an expansion. In that case I want to judge a deal on its merits. If its good, then a capital raising will have no issue getting shareholder approval. Making them get our vote might be more costly, but it keeps them honest and they can't take advantage of shareholders goodwill.
Geoff Cummings response today 7th Oct, page-43
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