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50.0¢ essential metals limited

Ann: Capital Raisings close having raised $4.8 million-PIO.AX, page-60

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groundzero

29,310 Posts.

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24/07/16

22:42

Post #: 18351635
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Originally posted by jamesph61 ↑

That doesn't sound too promising for @groundzero & others if its true ............ The only ones eligible to vote are the shareholders that gave the SPP a miss ???
That major shareholder may have said prior that they'd vote yes to pump the SPP a bit, but why on earth would they vote yes now that its Done'n'Dusted ???

What incentive there is for shareholders who DID NOT partake in the SPP to vote in favour of diluting their own investment so the other shareholders get the benefit from it.
The company already has the money banked and there is no mention of a refund if oppies aren't voted in favour of, so theres absolutely no drawback in that scenario for voting no ... quite the opposite actually.

May pay to look into it GZ ....... see if thee are restriction on 'voting eligibility' ? .... does it apply to those in both the Placement and the SPP ? ...... just the Placement alone ? .... or maybe neither and ALL registered holders are eligible to vote

Cheers ...& .... GLTAH ...... J

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Hi James, you just gave me a mental hernia, lol.

The way I look at it, all shareholders can vote re the issue of options......so shouldnt be a problem. .... I hope..

cheers
GZ

PIO Price at posting: 3.2¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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