Ann: Letter to Shareholders & Notice of Annual General Meeting, page-112

The confusion I have at the moment is:

if they gave us a very positive tech update then the SP would automatically increase and they would not need 25% of further share release to support ongoing development costs.

if there wasn’t a positive release then this makes sense to secure the current share price rate (which does not sit well with me) for the pure reason that we are either still quite a way to go or are changing our business model.

the third option is that they are planning to offer a potential acquirer (a wolf) up to 25% of the business to move forward in the further development of the product from both a cashflow and strategic position For me this then also links into the proportional takeover provisions in the new constitution stopping a wolf eating the lambs at a much lower share price.

so my voting positive to these resolutions will be based on the technical update and indeed a far clearer view of the change in business model because really we’ve moved from a completed corporate transaction in 2021 to a ongoing development model

this AGM and update better be lifting their skirts