| 1 | Resolution 1
Ratification of Issue of Shares to Underwriter under Listing Rule 7.1 | Approves and ratifies the past issue of 149,073,026 shares issued to Bell Potter Securities Limited to cover the shortfall from a prior Share Purchase Plan (SPP). | ✅ If passed: Frees up the company’s 15% annual share issuance capacity (under ASX rules) so they can issue more shares in the future without needing shareholder approval.
❌ If not passed: These shares will count toward the 15% limit, restricting future fundraising flexibility without shareholder approval. |
|---|
| 2 | Resolution 2
Ratification of Issue of Placement Shares under Listing Rule 7.1 | Approves and ratifies the 574,500,000 shares issued to institutional and sophisticated investors in an April 2025 private placement at $0.01/share. | ✅ If passed: Again frees up the 15% share issuance limit, preserving flexibility to issue more shares later.
❌ If not passed: These shares will use up part of the 15% limit, restricting future fundraising without a shareholder vote. |
|---|
| 3 | Resolution 3
Approval of Issue of Placement Shares under Listing Rule 7.1 | Approves the future issue of 53,820,242 shares at $0.01/share specifically to Fidelity International Limited, completing the second tranche of the Placement. | ✅ If passed: The company can issue these shares to Fidelity and receive approximately $538,000 in new funding.
❌ If not passed: The company cannot issue these shares without alternative arrangements, meaning a potential loss of needed funds. |
|---|
(20min delay)