Exemption to the 20% ownership limit is achieved by the passing of an ordinary resolution at a General Meeting of the Company.
Should TON require an EGM to approve the SQZG finance facility, an ordinary resolution can be included in the Notice of Meeting to allow SQZG or the associated cornerstone investor increase their holding to over 20%.
This is not a difficult process and would be a good result for the Company.
Please DYOR.
SQZG agreement, page-15
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