The Company wishes to ratify the issue of the Placement pursuant to Listing Rule 7.4, in order to allow the Company to have the right to place up to a further 15% of its issued capital under Listing Rule 7.1.
Currently there are 9,169,533,558 FPO shares issued, so that translates to -
The Company wishes to ratify the issue of the 750,000,000 shares pursuant to Listing Rule 7.4, in order to allow the Company to have the right to place up to a further 1,375,000,000ish shares under Listing Rule 7.1.
I think they’re just going to leave this idling until they’ve diluted every last retail investor out of the picture.
Ann: Notice of Annual General Meeting/Proxy Form, page-3
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