"By ratifying this issue, the Company will retain the flexibility to issue equity securities in the future up to the 10% annual placement capacity set out in ASX Listing Rule 7.1A without the requirement to obtain prior Shareholder approval. In addition, the Company will increase the variable upon which the relevant placement capacity is based and therefore increase the number of securities that may be issued without the requirement to obtain prior Shareholder approval."
Sure looks like a capital raising is in the offing, or why else would the board bother?
"By ratifying this issue, the Company will retain the...
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