A lot of negative chatter re upcoming meeting resolutions My take on it resolutions 1and 2 firstly the 15m just raised through the 250m odd share placement was not approved by share holders, meaning as it stands bnl have used up thier 25% capacity (plus some) to raise funds under the entitlement rule. To rectify any gap above the limit the board would like SH to agree to the total amount so they have the right to raise 25% without permission in the future rather than just ask for amount above the limit. What is sloppy here is they should have based the cr subject to SH approval, and they didn't, to egger to grab the money showing no respect to current holders, SH should feel miffed by this, but in the end we needed the money. What is on the table is, should we give them permission to do it again .. well yes because without capital we have nothing. Gas fields cost a lot to develop.
BNL Price at posting:
5.6¢ Sentiment: Buy Disclosure: Held
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