ZipTel Limited (ASX: ZIP, “the Company”) wishes to advise the following, 1. The Company has exceeded its capacity to issue equity securities without security holder approval under listing rule 7.1 by 3,037,368 shares (“Shares”). 2. The Company cannot seek ratification by security holders of the issue of the Shares as ratification under listing rule 7.4 is only available where the securities have been issued without breaching listing rule 7.1.
What does this mean?
ANN: Capacity to issue equity securities
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