Hi Brummie62,
Sorry to take so long to answer your question, but I just needed to check some details with the proposed AGM. The shares to be allocated are as follows:
The director's shares - 13,000,000
Incentive Shares A - 6,500,000@Usd$100,000,000 Aud$144,323,566
Incentive Shares B -19,500,000@Usd$150,000,000 Aud$216,509,096
Incentive Shares C -26,000,000@Usd$200,000,000 Aud$288,678,794
Incentive Shares D - 29,166,610@Usd$250,000,000 Aud$360,848,493
Total Incentive Performance Shares - 81,166,610
We also have to vote on the Key Management Personnel (KMP) distribution of 55,833,330 shares. The shares to be distributed do not include other shares such as:
a. Resolution 21 Approval of 10% Placement SOI 663,786,555 - 64,000,000
b. Resolution 20 Placement to Potential Investors upto Aud$15,000,000 - 300,000,000
c. Resolution 19 Approval of the replacement of Loan from Dr G of 47,060,527 shares
GMV will be raining down shares with approximately 545,000,000 new shares coming onboard. The dilution to our SP for LTH's is going to be difficult to stomach. I will be sending Dr G another email to voice my protest for all these potential future shares.
I understand that some companies need extra time for starting up, but I think this is greedy by management. If we could see what the future holds for GMV, maybe we would think differently and be more positively.
DYOR GLTAH
Cheers Rubes
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