Ann: AGM Letter to GLN Shareholders, page-91

Possibly I have perceived this the wrong way but after reading through all the comments I like what this potentially offers!

I see this as a backstop to negotiations, here's a few hypotheticals all in my opinion;

• Take for example you (JP) rock up to a venture capital meeting say to those sitting across from you "throw your cards on the table" to which they say "nah don't think so but you can throw yours on the table" @ this point you kindly remind them that their offer needs to stack favorably to your other available avenues.
• Mr Raymond's friends @ Ganfeng would like to help finance a project or 2 in Galan's arsenal but they don't necessarily want to pay a premium; JP would be able to show they need GLN more than the other way around.
• It's not hard to see China has led the race in acquiring supply from the western world, Ganfeng are just a piece of that puzzle. I see this as another way to keep them honest, introducing the idea of CATL, Yahua & Tianqi just to name a few; what if one or all said I wouldn't mind sharing a piece of that.
• Leverage is everything in a capital discussion - if you have options there's no need to be squeezed to a deal.
• Propose a lesser allocation of say 50mil shares to a strategic investor & also offer a higher allocation of they make a more attractive offer.
• Wriggle room - no need to stall negotiations by seeking market approval every step of the way.

For all we (plebs) know there could already be an offer or 2 on the table and JP would like the ability to squeeze those wonderful people. Something like "yeah nah, thanks for coming but we're good on our own for now"

I for one don't need a further explanation of said possible dilution if it is for the greater good. If JP can replicate the success I've already seen here @ GLN then I'm all for it. It seems an extraordinary ask but I'm not steering this ship.

It's a bold move - I see it as more confidence & security than risk.

A conscious decision will be needed to vote this either way. I don't need to make that right now and as so I'm willing to kick back and watch these next couple of weeks with intrigue.