Sorry I said it the wrong way around. Every company has the...

Sorry I said it the wrong way around. Every company has the ability to raise 15% of issued securities every 12 months without requiring shareholder approval. ASX Listing Rule 7.1a is the additional 10% to be voted on by shareholders. This is available to companies outside of the ASX300 and below a $300m market cap.

It's not an uncommon practice to push for the additional capital raising capacity with a company the size of IOU. As I said, this would allow the company to raise capital for acquisitions should the opportunity arise.