As I understand it, the second meeting is only in relation to the issue of the shares from the latest 8.5 cent CR.
The first resolution is not necessary to authorise the issue of the First Tranche shares BUT it does free up the directors to issue a further 15% of shares within 12 months at whatever issue price they determine. I would prefer they had to come to SH's with a proposal in order to avoid a repeat of the last debacle.
The second resolution is necessary to authorise the issue of the second tranche of shares - otherwise that part of the CR will not proceed.
Have I got this right ?
Fisho
Ann: Notice of General Meeting/Proxy Form-FAR.AX, page-16
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