Ann: Notice of Annual General Meeting/Proxy Form, page-9

Read the PDF ... it's all there in black and white.
They are trying to get a resolution passed under 7.1A so they can issue an additional 10% of shares (currently 886,407,309 ... not including options allocated but not exercised) ... so another 88,640,730 .

This is in addition to the standard 15% they can issue a year under ASX rule 7.1 ... which is another 132,961,096.
So they are asking if you are ok with them having the right to add another 221,601,826 shares - your holding will be de facto diluted, theirs will be buffered by their options, all the while being paid to produce a negative share price effect.

So ask yourself, is this a good idea to vote for?




And in case you are wondering what that means for the share price ... well at 50% dilution they have declared the share price will fall to 0.023, so it's pretty clear to see that at 25% dilution, which is what the resolution will enable, HMX would be sub 0.03 ... btw note at time of issue and the table below was published, the share price was 0.045 ... it is now down to 0.04.