capital raising, page-3

Am I correct is saying that OBJ being a small company outside the ASX300 it can capital raise (CR) 10% a year without needing approval and that resolution 3 which we are voting on is for a FURTHER 10%?

I don't think that the reasons give for this - see at the bottom of this message are ones that I agree with just now given I am very unclear as to how their projects are going.

Gareth




The Company may seek to issue the Equity Securities for the following purposes:
a) non-cash consideration for the acquisition of new assets and investments. In such
circumstances the Company will provide a valuation of the non-cash consideration as
required by Listing Rule 7.1A.3; or
b) cash consideration. In such circumstances, the Company intends to use the funds raised for
continued research and development expenditure on the Company’s current assets and/or
general working capital.