Ann: Outstanding Shareholder Support for Share Purchase Plan, page-45

Whilst the Company intends to raise $3,000,000 under the Plan, the Company reserves the right to accept additional applications subject to shareholder demand and compliance with the ASX Listing Rules. In accordance with the ASX Listing Rules, the maximum number of Shares that can be issued under a share purchase plan is that amount equal to 30% of the Company’s existing issued share capital. Accordingly, as at the date of this document the maximum number of Shares which will be issued under this Plan will be 135,312,595 Shares

This was in the SPP offer letter. I thought we passed a resolution last AGM (25 March 2022) to allow of us to raise more as per rule 7.1a but I thought that was only up to 25% (an increase of 10%). Probably should have

My figures show 487 million shares on issue prior to this raise, so 121,750,000 should have been our maximum raise....

FYI The resolution we passed was as follows:
“That, for the purposes of ASX Listing Rule 7.1A and for all other purposes, Shareholders approve the issue of equity securities up to 10% of the issued capital of the Company (at the time of issue) calculated in accordance with the formula prescribed in ASX Listing Rule 7.1A.2
and otherwise on the terms and conditions set out in the Explanatory Statement which accompanies and forms part of this Notice of Meeting.”