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.
FBR Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
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