CLZ

50.0%

0.1¢ classic minerals ltd

Hey non holder, you are serious?What are you talking about? What...

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Beobachterund

1,227 Posts.

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02/03/23

02:12

Post #: 66550523
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Originally posted by onthepunt: ↑

Holders here need to understand Resolution 26. They can't use their 15% placement facility to get this last-resort financing so they need shareholder approval to issue 500 million shares to LDA. This is after the prior issue of +214m shares plus optionssince January 25th (WTF!) which are also being voted on (Res 1-25).

If this passes they will still be allowed to issue more shares under 7.1 and it gives LDA around 30% of the company. And the gravy train continues for a bit longer. Unfortunately the 'non related parties' will probably be able to vote this through.

If it doesn't pass then CLZ is likely insolvent. At this point, (and not financial advice), the best result for holders is probably VA and a capital loss on their shares IMO.

Lets see Porka and Whirly spin this.

"Whilst some of the LDA Shares could be issued using the Company’s 15% capacity, the Company wishes to retain as much flexibility as possible to issue additional Equity Securities into the future without having to obtain shareholder approval under Listing Rule 7.1. To do this, the Company is asking Shareholders to approve the issue of all the LDA Shares under Listing Rule 7.1 so that it does not use up any of the 15% limit on issuing Equity Securities without shareholder approval set out in Listing Rule 7.1.

If Resolution 26 is passed, the issue of the LDA Shares can proceed without using up any of the Company’s 15% limit on issuing Equity Securities without shareholder approval set out in listing rule 7.1.

If Resolution 26 is not passed, the Company will not issue the LDA Shares and will explore alternative sources of funding.

The Board recommends that Shareholders vote in favour of Resolution 26."

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Hey non holder, you are serious?
What are you talking about?
What are you talking about alternative source of funding?
If LDA is out, clz will not get any other investor in a short manner.
Do you really think clz attract 100 other possible investors?
Oh dear, do anybody think SH can hold this down.
After the splitt the top 20 shareholder will deal, as we burnt holders have no voting POWER anymore.
They put us back to bed after the consolidation.
.
BEO

Last edited by Beobachterund: 02/03/23

CLZ Price at posting: 0.3¢ Sentiment: Hold Disclosure: Held
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Last 0.1¢		Change -0.001(50.0%)		Mkt cap ! $756K

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0.002	62425448	9
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