I would be interested to hear others views (from the...

I would be interested to hear others views (from the neutral-ramp contributors please!) in case I am being too kind on my interpretation for ARL and also my other holding which has shoed this into their AGM schedule!

Not sure what camp I fall into, and not fussed really, but in answer to your query, the 10% additional funding facility has been available to 'small caps' (being any eligible entity not in the ASX 300 with a mkt cap less than $300M) since around 2012. Most small caps that I'm aware of include the additional funding request in their AGM resolutions as a std facility, so it's not something ARL is trying to slide in underhandedly.

In fact, it only saves time during the year if more capital is raised over and above the first 15% because without it, the coy have to go back to SH's every time to ask permission to get that additional funding. Which some do, but the CR is done around the time of AGM's so the coy can go out to mkt and get the funding promised - and then have it approved by SH's at the AGM. Same result, just an easier mechanism.

And you're right, the resolution only lasts the 12 mths.