Ann: $4.4M Raised in Strongly Supported Placement, page-131

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tle85

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30/09/20

14:25

Post #: 47741090
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Originally posted by tinhat: ↑

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Capital raising and shareholder approval of second tranche share placement.
Hi Stephen
Congratulations on joining Pure Minerals and on your appointment to CEO. I have enjoyed the couple of interviews you have given which I have watched.
I am however, disappointed, that there was no Share Purchase Plan (SPP) for retail shareholders announced along with the recently announced first tranche capital raising and the proposed second tranche share placement. The current ASX emergency (COVID-19) provisions for capital raising are designed to allow companies to efficiently raise capital while also catering to the interests of smaller shareholders through an accompanying SPP offer to mitigate ownership dilution of smaller holders.

My position is that the capital raising excessively dilutes shareholders which were not able to participate. While I completely understand the benefits of raising capital to progress our exciting project, given the lack of an accompanying SPP for retail holders, I don't believe the Board of Directors has acted equitably and in the best interest of all shareholders.

I will therefore casting all ourv votes AGAINST approval of the second tranche share placement, in the absence of there being a SPP for retail holders at the same offer price as the capital raising. I am also encouraging other shareholders to vote AGAINST the second tranche placement.

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me too. i won't support. I was waiting for close CR to mop. But no chance now I think.
It moves in a good way however, but i don't support, management does not give SH any interests.

PM1 Price at posting: 2.5¢ Sentiment: Hold Disclosure: Held
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Ann: $4.4M Raised in Strongly Supported Placement, page-131

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