Ann: FY22 Results, page-21

Resolution 5
If this Resolution is passed, the Company will be able to issue equity securities up to the combined 25% limit in ASX Listing Rules 7.1 and 7.1A without any further shareholder approval.

Are you REALLY prepared to dilute your holdings by a further quarter?

I can understand 10% and that would be reasonable. But 25% is outrageous. I would struggle to endorse this for almost any company i invest in but from my above analysis, I seriously question this.

If this Resolution is not passed, the Company will not be able to access the additional 10% capacity to issue equity securities to issue equity securities without shareholder provided for in ASX Listing Rule 7.1A and will remain subject to the 15% limit on issuing equity securities without shareholder approval set out in ASX Listing Rule 7.1 (15% Placement Capacity).

Section 5.2 last para:
WHAT THE HECK : Rule 7.1 is 10%, not 15%, and they are asking for an additional 15% not 10% ... get this right, this is a core and essential decision for shareholders and you have stuffed this up making decisions difficult.

Other than the resolution begin technically incorrect, it is a massive risk to shareholders that they could see more losses in SP and dilution.

Another RESOUNDING NO

adreamer