‘Secondly, the reason I restarted this thread on the weekend was to express my dismay at the proposed EGM vote to allow the board to pay out the loan in full in shares. I have given my reasons previously, and notwithstanding the response from the Gavin, you have still not understood the point ... the loan company may not be able to force a repayment in shares unless a certain condition arises (I have never disputed this) ... but the board may still choose to repay the loan in shares.’
Is this what you’re getting at?....
So when this issue is ratified
‘By ratifying this issue, the Company will retain the flexibility to issue equity securities in the future up to the number of Shares into which the Convertible Note is converted without the requirement to obtain prior Shareholder approval.’
the board can just go hey, let’s pay back some of the Loan by issuing shares up to the amount of 35,922,041 shares whenever they feel like?
AJX Price at posting:
17.5¢ Sentiment: Hold Disclosure: Held
