I had forgotten about this rule. Cant issue more than another 15% without shareholder approval in any 12 month period. This CR is right on the limit - in fact by my calcs a little bit over. 312.5M to sophs, 187.8M to the riff raff = 500.3M shares.
App 3B on 15 July had us at 3193.3M and a remaining capacity of 441,498,563 to issue.
If this resolution is not passed to approve the issue to the sophs, then there will be 59M shares that can't be issued under the entitlement offer unless they breach rule 7.1. That would be a 31% shortfall.
I expect we will get another notice of meeting to approve the 187.8M issued under the entitlement issue shortly after that is all done and dusted (oops, shouldn't use that word at the moment!)
I had forgotten about this rule. Cant issue more than another...
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