"The issue of 234,806,987 Shares, being the New Shares described above, was completed on the
Issue Date and the New Shares were issued within the fifteen percent (15%) limit permitted by
Listing Rule 7.1 and does not fit within any of the relevant exceptions. However, without
Shareholder approval pursuant to Listing Rule 7.4, the issue of the New Shares will be counted
towards the Company's fifteen percent (15%) capacity and reduce the Company’s ability to
issue any further Shares in the twelve (12) month period following the Issue Date without
obtaining Shareholder approval."
The way I'm interpreting this extraordinary meeting is that management wants to have the freedom to do more capital raising in the current year without having to obtain shareholder approval at that time. Not sure what to think about that.
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- Ann: Notice of Extraordinary General Meeting/Proxy Form
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