I think Res 4 is more about opportunities to raise capital. I dont think anyone wants more dilution including BOD who also have to keep tipping in to show support.
If you deny the 10% if they need to raise more capital it just means they get an emergency loan that will convert to shares after approval by shareholders. What a waste of time money and energy to have to have a meeting just for that. Think about that in terms of cash saving.
And trust me if the option is approve the conversion of this loan or we go into admin - no one will prefer admin.
Voting no to 4 is just self defeating. Hopefully they dont need to use it but if they do rather they go out and do it than have to call a meeting which has all the delays associated - 20 odd days notice period etc.
AJM Price at posting:
5.8¢ Sentiment: Hold Disclosure: Not Held
