I have read through the document and was wandering what would happen in the unlikely event that the market cap goes above $300m? ( i hope it does before AGM 2021)
Can any season Aus investors comment on the following from the document? The way I read it this may be the last time that they can increase share capital by 10% ( assuming market cap > $300m)
Approval of additional 10% capacity under Listing Rule 7.1A 31 Listing Rule 7.1 allows the Company to issue a maximum of 15% of its capital in any 12 month period without requiring Shareholder approval. In accordance with the Listing Rule 7.1A, eligible entities (companies that are outside the S&P/ASX 300 index and that also have a market capitalisation of $300 million or less) can issue a further 10% of the Company’s share capital over a 12 month period following the Annual General Meeting (provided Shareholder approval is obtained at the Annual General Meeting) on a non-pro rata basis.
Sorry if this is a dumb question from an amateur investor
IMU Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
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