Comedy content in the Proxy Statement - Laugh or cry - you...

Comedy content in the Proxy Statement - Laugh or cry - you choose (and they are asking for shareholders to open wallets or be diluted in next 3 months)

4.3 IndependenceMr Etienvre has no interests, position or relationship that might influence, or reasonably be perceived to influence, in a material respect his capacity to bring an independent judgement to bear on issues before the Board and to act in the best interest of the Company as a whole rather than in the interests of an individual security holder or other party. Mr Etienvre does provide ad-hoc consulting services from his entity, NGX Commodities Ltd for commercial and corporate finance services, however the quantum is not considered material.The Board considers Mr Etienvre is an independent director.

(i) the Related Party Options are unquoted, therefore, the issue of the Related Party Options has no immediate dilutionary impact on Shareholders;

(ii) the grant of Related Party Options to the Related Parties will align the interests of the Related Parties with those of Shareholders;

Salary Sacrifice Shares will be issued under the Company’s Directors’ Salary Sacrifice Share Plan

Shareholders should note that there is a specific risk thati) the market price for the Company’s Shares may be significantly lower on the date of the issue than it is on the date of the Meeting; and(ii) the Shares may be issued at a price that is at a discount to the market price for those Shares on the issue date.

(m) the funds raised from Placement will be used to supplement the Company’s cash requirements for the Company’s ongoing feasibility work relating to the Vienna Basin green hydrogen (H2) production and storage project, the Geothermal Pilot Project in collaboration with Siemens Energy and RED Drilling & Services and completion and tie in for production of the Anshof exploration well (if successful) as well as license fees for the extension of the Company’s exploration licences in Upper Austria; (this is the capital raise from last December ... I don't think there is enough left to do all this!! )

Resolution 14 seeks Shareholder approval, under ASX Listing Rule 7.1, for the Company to issue up to 285,000,000 Shares and 142,500,000 Unlisted Options (Future Placement Securities). The Company seeks this approval for the purpose of enabling the Company to undertake a capital raising during the three months after26the approval of this Resolution (Future Placement).
The Company wishes to undertake the Future Placement to progress activities for its hydrogen project,geothermal project, the development of the Anshof-3 discovery and for working capital. Ready?

(d) It is anticipated that, subject to Shareholder approval being received, the Future Placement Securities will be issued progressively and in any event no later than three (3) months after the date of this Annual General Meeting, or such later date to the extent permitted by any ASX waiver or modification of the Listing Rules;
(e) The issue price of the Future Placement Shares will be not less than 80% of the volume weighted average price for Shares calculated over the five (5) days on which sales in the Shares are recorded before the day on which the issue is announced;