It’s not a capital raise as such..
The EGM is for ratification of the prior issue of shares in November 2021 and February 2022 (plus those broker options etc).. It should’ve happened earlier this year but seems like management “dropped the ball” and my assumption as another AGM is around the corner, they quickly realised that they needed the shareholder approval as its was outside both the 15% and 10% approved allocation from last years AGM..
These shares have already been issued (it’s all in the explanatory notes) and have already realised dilution when they were quoted in those respective months..
Either way you look a it, the level of incompetence displayed for a ceo on 25k per month is outstanding..
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