re: Ann: Notice of Annual General Meeting/Pro... Interesting to see the resolution for the company to issue new shares up to 10% of the value of the company, and this is in addition to the 15% already in place.
Thus, it appears management want the facility to issue up to 25% of new shares in IOH.
This is a nice round number, and makes me wonder if this is potentially being put in place so IOH can effectively spin off an asset (let's say Bungaroo)and another entity (let's say AQA) could take up the 25% of new capital in order to take a 50% stake in that newly spun off asset/project.
Of course I'm just hypothesising, but if IOH were intending to simply sell off assets for a royalty (as in the Iron Valley deal) there would be no need to increase the new share facility.
Does anyone else have any thoughts on that resolution?
Ann: Notice of Annual General Meeting/Proxy Form , page-4
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