Interesting I missed this. A bit to digest but here are 3...

Interesting I missed this. A bit to digest but here are 3 important quotes relating to this in the report - see below. On one hand it looks like a pre-emptive measure to be able to have the choice to issue shares before the market cap exceeds 300M and there is no intention at this time to raise. But then it talks about accelating business activities. Would be interested in others thoughts here...

"Use of funds raised under the 7.1A Mandate
The Company intends to use funds raised from issues of Equity Securities
under the 7.1A Mandate for expanding or accelerating the Company’s
existing business activities including to further develop the Company’s
Interface Switching ReRam technology and for general working capital."

"However, under Listing Rule 7.1A, an eligible entity may seek shareholder approval
by way of a special resolution passed at its annual general meeting to increase
this 15% limit by an extra 10% to 25% (7.1A Mandate).
An ‘eligible entity’ means an entity which is not included in the S&P/ASX 300 Index
and has a market capitalisation of $300,000,000 or less.
As at the date of this Notice, the Company is an eligible entity as it is not included
in the S&P/ASX 300 Index and has a current market capitalisation of $209,549,190
(based on the number of Shares on issue and the closing price of Shares on the
ASX on 4 October 2023).
The Company’s market capitalisation had recently increased above this
prescribed $300,000,000 threshold. If the closing price of the Company’s Shares on
ASX on the last trading day before the date of the Meeting (or the fair measure of
the price of Shares calculated in such other manner as is acceptable to ASX) is
such that the Company’s market capitalisation exceeds the prescribed threshold,
the Company will not be an eligible entity for the purposes of Listing Rule 7.1A and
will withdraw this Resolution 9."
"As at the date of this Notice, the Company is not proposing to make an issue of
Equity Securities under Listing Rule 7.1A. Accordingly, a voting exclusion statement
is not included in this Notice."