agm resolutions, page-2

Good post Pescefritte;

Res 5 I'd be looking at no , as the $6m (Res 6)at 2.0c is a good deal IMO.

If 6 was voted as No as your post kind of suggests... Then where do they actually turn to to raise capital????

If 5 is voted yes ( which is probable if voting 6 no) ; then they can turn to the market and raise at a sp of no more than 75% of the vwap over the 15 trading days; 25% of the current shares; so at he moment ( if I'm reading it right ) that's 400m shares at say 1.3c ( extra 100m) for $5.2m.....More dilution less cash..

Ive noticed that Feb clause.... Looking like a worse case scenario to me..... Timetables are usual provided in weeks rather than months.....