AR9

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8.4¢ archtis limited

AR9 $1+, page-651

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charliekane

238 Posts.

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17/12/20

12:32

Post #: 49649882
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Originally posted by tropic: ↑

Reading the AGM papers(assuming I'm reading them correctly):

Minimum Price
Any Equity Securities issued under the 7.1A Mandate must be in an existing quoted class of Equity Securities and be issued at a minimum price of 75% of the volume weighted average price of Equity Securities in that class, calculated over the 15 trading days on which trades in that class were
recorded immediately before:
(i) the date on which the price at which the Equity Securities are to be issued is agreed by the entity and the recipient of the Equity
Securities; or
(ii) if the Equity Securities are not issued within 10 trading days of the date in Section 5.2(b)(i), the date on which the Equity Securities
are issued.
So, Yep, the price will be held down until the AGM. I would have liked to see a bit more accountability on how the $'s are going to be used:

Use of funds raised under the 7.1A Mandate
The Company intends to use funds raised from issues of Equity Securities under the 7.1A Mandate as cash consideration for the acquisition of new assets and investments (including expenses associated with such acquisitions), continued research and development expenditure on the Company’s current projects (funds would then be used for the project and ongoing project administration) and general working capital etc.
I can only interpret this as general expenditure cash burning - I would like to see some funds spent on marketing.

I think the re-election of Miles Jakeman and Leanne Graham is a no brainer - Very impressive backgrounds.

They have already raised about $8M though issue back in November
RESOLUTION 6 – RATIFICATION OF PRIOR ISSUE OF SHARES – LISTING RULE 7.1
7.1 General
On 12 November 2020, the Company announced that it had undertaken a
placement to raise $8.4 million at $0.33 per Share (Placement). amicaa and MST
Financial acted as the joint lead managers of the Placement.

Overall. I'm ok with the resolutions other than would like to see more accountability on how the money will be spent. We the Shareholders are doing our bit - we now need Management to do theirs.

Expand

What exactly do you mean by shareholders "doing our bit"

AR9 Price at posting: 32.0¢ Sentiment: Buy Disclosure: Held
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Last 8.4¢		Change 0.001(1.20%)		Mkt cap ! $24.07M

Open	High	Low	Value	Volume
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No.	Vol.	Price($)
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AR9 $1+, page-651

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