Read the attached to the AGM announcement. Wanting to raise capital over and above the 15% rule as special exception. Why would you need that if you weren't planning a cap raise in the near term especially with cash now just above only $3m!. Given the share price is 7c and typically to raise money it will need to be at least 10% below that on a SPP etc. it will need to be ~6cents. That's an awful lot of dilution (at least 100m new shares) and will smash the prospects of the company. But this isn't about that it's about guaranteeing a pay check. wouldn't be surprised to see a 1:1 offer to allow QVT to take control as it's been playing that way for years.
UPS announcement after AGM remuneration....once again love the timing.
They really must believe holders are muppets!
Ann: TZ Limited Appendix 4C - Quarter ended 30 September 2015, page-8
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