Phoenix Water - PXW - Lithium - 100x, page-1842

Just adding to what I said before:

As per the amended memorandum - Transfer of shares requires approval of directors.

Given what happened recently, where an investor proposed purchasing a share from existing holders for $250K AUD, Nick may be concerned that such share transfers could affect his ability to secure capital at a higher valuation. Consequently, directorial approval has been made a prerequisite.