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Ann: Updated Constitution-IOT.AX, page-8

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droogs1x

456 Posts.

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01/07/16

11:13

Post #: 18169086
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Originally posted by Foxtrot_01 ↑

Having now read the report in it's entirety I know two things for certain;

1. I need to get out more
2. There are some interesting items contained within that report and I highly recommend DOYR.

Most of these items pertain to the fact that IOT intends to De-merge with their Xstream arm of the business later in the year and list that arm under OTT:ASX - a separate entity.

Over half of the document deals with various legalities surrounding this, including providing the Directors the power to issue 'in-specie' shares in OTT to current share holders.

One of the more interesting (dare I say worrying) points was that they plan to issue another 100,000,000 shares within 3 months of the AGM. I should clarify that, they now have the 'power' to do so if the directors deem it necessary.
I would really have liked to be at the AGM, or to hear from someone who was, as I am sure this would add some clarity.

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Those shares that will be issued will be used as payment for services. Hasn't been a problem in the past and given the timeframe one could assume more big news is just around the corner.

Well done reading the entire announcement foxtrot. DYOR.

IOT Price at posting: 8.7¢ Sentiment: Buy Disclosure: Held
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