New Listing Rule 7.1A provides that a company not in the S&P/ASX 300 index and having a market capitalisation of $300 million or less may seek shareholder approval at its AGM to increase its placement capacity by 10%, meaning the company may undertake a placement of up to 25% of its issued share capital for a period commencing on the date of shareholder approval and expiring on the first to occur of:
• the date that is 12 months after the date of the AGM at which approval was obtained; and • the date of approval by shareholders of a transaction under Listing Rules 11.1.2 or 11.2 regarding a change to activities.
AVZ Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held