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26/11/24
17:36
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Originally posted by edshann:
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No they can still issue more shares without shareholder approval. " However, subject to the Listing Rules, the Company may still issue or agree to issue further Shares within the limit of the existing 15% capacity within Listing Rule 7.1 and 10% capacity within Listing Rule 7.1A without seeking Shareholder approval. Alternatively, the Company may elect to issue new Shares subject to Shareholder approval at a general meeting of members." They could also slow down the stage 1.5 expansion to fit in to cash flow plus any raising.
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7.1a wasn’t approved they can issue 15% of the current capital which is the 130m maybe at 2c. It’s not enough $$$ they probs need another 10m or so. im not sure who would underwrite anyways. where to next?