I think in general they are saying that if this CN issue is...

I think in general they are saying that if this CN issue is ratified then they are freeing up a large part of the 15% placement capacity for future issues. If you look at the other 2 resolutions.
Resolution 11 and 12. See below paragraphs as they have similar phrases.

"By ratifying the issue of 29,514,282 Shares, the subject of Resolution 11, the Company will retain the flexibility to issue equity securities in the future up to the 15% annual placement capacity set out in ASX Listing Rule 7.1 without the requirement to obtain prior Shareholder approval."

"By ratifying the issue of 4,000,000 Shares, the subject of Resolution 12, the base figure (ie variable "A") in which the Company’s 15% and 10% annual placement capacities are calculated will be a higher number which in turn will allow a proportionately higher number of securities to be issued without prior Shareholder approval. "


Just the wording could have been a bit better on resolution 13. But maybe that is the law on how it should be worded.
Sure it frees up 35,922,041 shares as part of the 15% placement capacity if ratified.
Alexium have not issued these 35 mill shares and maybe never will. Refer my posts from yesterday.

There is no way the board can say lets just issue the shares and not pay part of the loan back.

They just want to reset the 15% and 10% placement capacities. Asx listed companies do this.

As I said I am no expert just my interpretation.

Good luck to all
Cheers