Ann: Notice of General Meeting/Proxy Form, page-101

Voting for issue argument:
-Wilton and friends have done enough based off announcements in terms of growth
-positioned jat in a great environment for manufacturing products and increasing product range eg cosmetics
-acquired another CNCA approved facility (another 3slots for SAMR)
-revenue target hit already (speculative)
-great management of day to day expenses (wages)
-potentially increasing margins
-timely transition into new factory and increasing supply of products
-great cash management
-ramped up marketing and making deals


voting against issue argument:
-not the right time to be issuing shares for performance
-speculation of figures/growth and no solid proof of revenue coming from jat products
-write off of GK & delay in SAMR (GK range)
-image and reputation needs work to restore trust
-issue with amount of shares to be issued (too high in volume or no proof of achievements to justify amount to be issued)
-more dilution
-supposedly affects likelihood of options being converted
-wealth of shareholders not grown (sp still at 6c level)
-actual figures are wishy washy (at this point in time)
-issue of shares because they completed deal for acquisition of ANMA and got the plant up and running to produce goods???

I probably missed some points but feel free to add/correct what I got so far. IMO still leaning towards against. Don’t have a problem with performance shares being issued if there have been great performance but why are we paying “bonuses” for buying a factory and turning it on to produce our products?? If we make $80mill addition revenue because of the acquisition of ANMA facility then sure that’s performance but buying a new tool and turning it on= great performance?