CGB 0.00% 2.1¢ cann global limited

CGB - 1.9c to 7.2c - What will happen in the next 6 months., page-1729

  1. 2,204 Posts.
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    @CGBrep
    Thanks for acknowledging my post Neil, much appreciated.
    If I may impose another question after doing some further research on the above question.

    On the 27th October announced the proposed new entity Cann Global Asia Pty Ltd.
    On the 25th October CGB put out the announcement Notice of AGM.

    However, a google search on the proposed new entity reveals that the business name Cann Global Asia Pty Ltd was registered on the 24th October 2019 with the ACN 637 031 120.

    One day prior to putting out the Notice of AGM.

    https://hotcopper.com.au/data/attachments/1846/1846412-4f4825a428b466d67529f5718a9f23a3.jpg

    If the 55% of the Shares in CGAPL are to be in the name of CGB, would this not be subject to shareholder approval? If so, then surely this could / should have been put as a resolution at the upcoming AGM given that the company name was registered prior to the AGM notice.

    Small Caps put out an article on the 28th October 2019 which reads in part:
    "Cann Global (ASX: CGB) has decided to expand its medical cannabis business in Asia by incorporating a dedicated subsidiary that works with the APAC and Asian markets.

    The new company – Cann Global Asia – has been set up by the ASX-listed medical cannabis developer to focus on undertaking “legal broad-acre industrial cannabinoid (CBD) hemp cultivation and processing” as well as indoor cannabis cultivation in Southeast Asia.The venture is being developed for Cann Global to become “the first Australian company to have a full ‘seed to product’ Cannabis business established in Laos,” according to its managing director Sholom Feldman."
    https://*********.com.au/cann-global-lower-production-costs-medical-cannabis-production-operation-southeast-asia/

    I may be getting ahead of myself with making the assumption that that Cann Global Asia Pty Ltd made the registration and not some random opportunist, but thought I would add the question to get some clarity on this prior to the AGM to make an informed decision on when and if to re-invest.

    Thanks again.










 
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