Another roughly 25% dilution coming up next year. Better than...

Another roughly 25% dilution coming up next year. Better than Lind though I suppose.

RESOLUTION 4 – APPROVAL OF 10% PLACEMENT FACILITY
General
Listing Rule 7.1A enables eligible entities to issue Equity Securities up to 10% of its issued share capital through placements
over a 12 month period after the annual general meeting (10% Placement Facility). The 10% Placement Facility is in addition
to the Company's 15% placement capacity under Listing Rule 7.1.
9Notice of Annual General Meeting
CARNEGIE WAVE ENERGY LIMITED
An eligible entity for the purposes of Listing Rule 7.1A is an entity that is not included in the S&P/ASX 300 Index and has a
market capitalisation of $300 million or less. The Company is an eligible entity.
The Company is now seeking shareholder approval by way of a special resolution to have the ability to issue Equity Securities
under the 10% Placement Facility.
The exact number of Equity Securities to be issued under the 10% Placement Facility will be determined in accordance with the
formula prescribed in Listing Rule 7.1A.2.
As disclosed in the Company's quarterly activities reports, the Company is continuing its strategy of the targeted pursuit of
commercial opportunities for CETO in Australia and internationally. The Company may use the 10% Placement Facility to
participate in these commercial opportunities.
The Directors of the Company believe that Resolution 4 is in the best interests of the Company and unanimously recommend
that Shareholders vote in favour of this Resolution.