Seems the rule of not issuing more than 15% in 12 months relates to "the relevant period", so if the 15% is used up the next 15% cant be issued until 12 months passes. The "relevant date" is tied to the issue date.
The additional 10%, by special resolution at the AGM, lasts on for period to the next AGM.
Do you agree with my interpretation of the rule?, or do you think I have it wrong? I'm happy to be corrected.
Ann: Successful A$30M Two Tranche Placement to Fast Track Growth, page-110
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