RESOLUTION 6 – APPROVAL OF 7.1A MANDATE To consider and, if thought fit, to pass the following resolution as a special resolution: “That, for the purposes of ASX Listing Rule 7.1A and for all other purposes, approval is given for the Company to issue up to that number of Equity Securities equal to 10% of the issued capital of the Company (at the time of issue) calculated in accordance with the formula prescribed in Listing Rule 7.1A.2 and otherwise on the terms and conditions set out in the Explanatory Statement.”
Does anyone see a need for a capital raise if the company is seeking loan funding? It also states that this can be in addition to a base 15% capital raise and this10% is just the option for extra if required. Is this a 'just in case it's needed' type thing?
(c) Use of funds raised under the 7.1A Mandate The Company intends to use funds raised from any issue of Equity Securities under the 7.1A Mandate for the commercial development of its graphite businesses, related corporate purposes and general working capital.
EGR Price at posting:
8.0¢ Sentiment: Hold Disclosure: Held
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