30/11/2021 Results of meeting announcement. Approval of 7.1A...

30/11/2021 Results of meeting announcement. Approval of 7.1A mandate was not passed.
My belief is that VMS are now restricted to issuing only 15% of the total number of shares for the next 12 months. (Which is why I sold most of my holdings)

The current capital raising of $5.5M represents about 10.5% . Well within the 15%.

However in this announcement (offer booklet) VMS claims they can issue up to 30%. My knowledge of ASX capital raising rules is limited and would appreciate any information that would clarify the situation before I reinvest.

How can they use 30% if the shareholders have restricted them to 15% ????

In the 9 months after the Julimar discovery Chalice raised about $160M, using the full 30% rule and selling investments. (RMS and O3, about$20M)

If Thor is a Julimar replica , VMS would need to raise about $48M to maintain their 30% of the JV with Chalice.