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12/05/21
09:24
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Originally posted by Mr2jzgte:
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Given it's an additional 19.x%, on top of the 300k shares issued in November(?) wouldn't that put them past the threshold for requiring shareholder approval again (which they got busted for last year) It's interesting to see how much focus they put on SCM and attempting to distance it from JT, whereas historically it's been very quiet on that front.
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Shareholder approval not required for an entitlements issue because retail shareholders are being given the chance to take up their rights. In any case it is very disappointing that only 6 months after the last placement at 6c, they are rattling the tin again at a massive haircut. Only plus I can see here is that retail shareholders are given a chance. Wolf