Ann: Notice of 2024 Annual General Meeting and Proxy Form, page-2

I support the company’s direction overall, especially Resolutions 1 and 2, which seem solid for growth.

But Resolution 3, which seeks approval for a 10% Placement Facility, raises a few red flags for me.The main concern? Share dilution.
This facility lets the company issue up to 10% more shares without our direct input each time, which reduces the value of existing shares and voting power. Plus, any shares issued could be priced up to 25% below market, potentially hitting the stock price.

Without clear reasons for needing this extra 10% on top of the 15% they already have, I’m not convinced it’s in the best interests of long-term shareholders. I’d prefer capital-raising that doesn’t risk over-dilution or undervaluing the stock.

What do others think?