DIRT-SLIDER that's what I thought also. But I believe we had 85 million shares post consolidation and %15 of that is 12.75 million. But they already issued 14.7 million. it looks like 25% to me based on this.
By ratifying the issue of shares and options pursuant to the first stage of the Placement to which Resolution 1 applies, the total placement capacities under Listing Rules 7.1 and 7.1A will be reinstated and the Company will retain the flexibility to issue equity securities in the future up to a total 25% annual placement capacity without the requirement to obtain prior shareholder approval. Any issue of shares under the reinstated Listing Rule 7.1A 10% capacity must still comply with the requirements which apply to issues under that Rule, including that the shares are issued at a price which is at least 75% of the 15 day VWAP
BLT Price at posting:
$1.69 Sentiment: None Disclosure: Held