Should be an interesting meeting. According to the listings in the last Annual report of NOR's 247,838,755 shares 87,515,276 of them will be ineligible to be cast in support of the resolution to grant further options to existing NOROA holders.
The only people that stand to gain from the grant are existing NOROA holders, all other shareholders - if they are all exercised) will see a 41% increase in total shares on issue and a 30% dilution of their holdings.
The last time there was a vote on anything was back on 29th May 2020. Approx 33.2 million votes were cast at that meeting. It won't take much to block this resolution especially if the 8 remaining top 20 holders decide against it.
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- Ann: Proposed Grant of New Options to NOROA Optionholders
Ann: Proposed Grant of New Options to NOROA Optionholders, page-3
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