capital raising

Came across this from the ASX website. Maybe this answers a few questions

"First, we have improved the flexibility for companies to raise capital. Until
recently the maximum that could be raised without shareholder approval was
15% of the capital base. It meant that early stage companies had to go back
frequently to secure investment for expansion. We have changed that
inefficient process. Companies can now raise a further 10% subject to
approval at their annual shareholder meeting."

"The new rules were implemented on 1 August, in time for this year’s AGM
season. Indications are that the new rules are helping small and mid-cap
companies.
So far, a total of 752 companies were eligible to apply for greater capital
raising flexibility in their AGM notices. 296 companies did so, which
represents 39% of the eligible population.
The numbers get better when we look at resource companies as a subset of
this. So far, 372 resources companies were eligible to ask for greater
flexibility. No less than 243 did ask for it in their AGM notices. In other
words, 65% of resources companies that could apply for greater capital
raising flexibility did so in their AGM notices.
This shows how a relatively simple change can make a real difference to
companies, while maintaining strong shareholder protections. We are
grateful to ASIC and the Government for approving the changes and finding a
sensible solution quickly."