Sam you need to look at the two issues as completely separate, each year the company is automatically allowed under rule 7.1 to issue 15% of there current share holding i.e. 15% of 161,559,408 = 24,233,911, this they are issuing to AEF bringing the total number of shares on issue to 185,793,319.
ANP then propose to issue a further $2M dollars of shares to all holders including the proposed issue to AEF under a SPP which will come under the rules 7.1 to 7.4 issue to current holders i.e. shareholders totaling 185,793,319. I'm not sure but I think the second issue will have to be ratified at the AGM or an specially convened GM.
Please explain., page-50
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