Imo the bizarre thing about this resolution is not the 10% flexibility to issue at some point over the next 12 months, which isn’t uncommon in itself. But it’s the accompanying exclusion statement:
“The Company will disregard any votes cast in favour of Resolution 7 by or on behalf of a person, or any associate of that person, who may participate in the proposed issue and a person who might obtain a benefit as a result of a proposed issue, or any associate of a person who might obtain a material benefit, except a benefit solely in the capacity as a holder of Shares if Resolution 7 is passed.”
With no proposed issue on the table that we know of, how on earth could the company disregard any votes of a person that may benefit on the day of the annual meeting? Either the company has something in mind - if so, where’s the announcement - or it doesn’t and it won’t on or before the day of the annual meeting - in which case this exclusion statement is totally superfluous because it cannot be applied. It can’t at a future point retroactively go back to the AGM votes and disregard any cast in favour by someone that may benefit.
- Forums
- ASX - By Stock
- Ann: Notice of Annual General Meeting/Proxy Form
Imo the bizarre thing about this resolution is not the 10%...
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add IMM (ASX) to my watchlist
|
|||||
Last
32.0¢ |
Change
0.015(4.92%) |
Mkt cap ! $464.8M |
Open | High | Low | Value | Volume |
30.0¢ | 32.5¢ | 30.0¢ | $1.168M | 3.702M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 148547 | 32.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
32.5¢ | 51809 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 148547 | 0.320 |
3 | 107807 | 0.315 |
2 | 38192 | 0.310 |
2 | 58192 | 0.305 |
10 | 490669 | 0.300 |
Price($) | Vol. | No. |
---|---|---|
0.325 | 44309 | 1 |
0.330 | 179497 | 6 |
0.335 | 82304 | 5 |
0.340 | 49303 | 3 |
0.345 | 27527 | 3 |
Last trade - 16.10pm 24/07/2024 (20 minute delay) ? |
Featured News
IMM (ASX) Chart |
The Watchlist
FHE
FRONTIER ENERGY LIMITED
Adam Kiley, CEO
Adam Kiley
CEO
Previous Video
Next Video
SPONSORED BY The Market Online