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Ann: Updated Constitution-IOT.AX, page-7

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atari2600

1,336 Posts.

01/07/16

11:11

Post #: 18169051
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Originally posted by Foxtrot_01 ↑

Having now read the report in it's entirety I know two things for certain;

1. I need to get out more
2. There are some interesting items contained within that report and I highly recommend DOYR.

Most of these items pertain to the fact that IOT intends to De-merge with their Xstream arm of the business later in the year and list that arm under OTT:ASX - a separate entity.

Over half of the document deals with various legalities surrounding this, including providing the Directors the power to issue 'in-specie' shares in OTT to current share holders.

One of the more interesting (dare I say worrying) points was that they plan to issue another 100,000,000 shares within 3 months of the AGM. I should clarify that, they now have the 'power' to do so if the directors deem it necessary.
I would really have liked to be at the AGM, or to hear from someone who was, as I am sure this would add some clarity.

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The market does not like this announcement? it's dropping while all my other stocks are in the green

IOT Price at posting: 8.7¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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Ann: Updated Constitution-IOT.AX, page-7

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