Hi,
Something does not seem right. The resolution 7 seeks to issue 50 million shares within three months of AGM in Feb at 80% of average price (this is in addition of 15% placement capacity plus 10% additional placement capacity).
As at last quarterly, they had $7.3 Million. Why the need to issue additional 50 million so soon ?
Have they already blown all the money ? Are the results from crown prince not so good?
There must be a reason for this resolution otherwise why bother.
Ann: Notice of Annual General Meeting, page-2
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