Ann: Notice of Extraordinary General Meeting/Proxy Form, page-3

In light of the cost and considerable notice period associated with holding such general meetings to be able to ratify or approve capacity to issue equities, the Board has also included a resolution seeking approval to issue up to 800 million shares associated with a potential placement.

The resolution provides the Board with the flexibility to rapidly make an institutional placement to sophisticated sector focused investors, at the Board’s discretion, without the need to revert to shareholders for approval at a further EGM and the associated delay. If approved, any shares under such placement must be issued within three months of the Meeting. The funds raised under the placement would support the clinical trial pipeline and otherwise for general working capital of the Company.

I'm thinking CHM 1101 is looking good and the potential placement is for a potential partner. They'll use the cash to progress CHM 2101.

Thoughts?