Agreed pomboy. If the SP has collapsed to 3cents by the end of...

Agreed pomboy. If the SP has collapsed to 3cents by the end of March, the resolution will probably not be passed.

"At a premium" does not say what premium, but does guarantee a premium. It is entirely possible that the shares are indeed to be issued at a 'minimum' fixed price of say 10c, but that if the SP is higher than 10c by the end of March, they will be issued at a 5% premium, say. I seem to recall seeing such an investment on another company a while ago.

The fact that directors are happy to have shares instead of salary, at 10c a share, is also significant IMO.

Finally, I believe that this announcement is not related to the proposal to sell off the 'non core assets', which could still go ahead in the next month and realise more cash.

No advice intended