Hi,Apologies for the slow reply/update.Marcel replied to my...

Hi,
Apologies for the slow reply/update.

Marcel replied to my email on 3rd September and he thanked me for the contact and my continued support of GRB.

Rather than paraphrasing, I am posting the body if his reply below (hope he does not mind):

QUOTE from Marcel:

As you’ve correctly noted, the s7.1A extra placement capacity resolution has featured at our AGM’s for a number of years now. The Board is very conscious of shareholder dilution (with the majority of the Board being shareholders themselves) and has historically not utilised that extra capacity.

With that in mind however, the Board is equally conscious of the need to act decisively to take advantage of opportunities (i.e. acquisitions) that may present themselves with little notice as well as the need to maintain maximum capital flexibility, particularly in uncertain macro-economic times.

The Board (via the notice of meeting) is simply putting the request to shareholders and it is ultimately up to shareholders to approve the request. The resolution is a special resolution requiring at least 75% of votes to be cast in favour for it to pass so a large number of shareholder need to agree.

END QUOTE:

I feel Share Dilution punishes the Share Price. Would I feel better with 1m share at 14¢ than 5.4¢ - you bet I would !

I'd prefer the Board helped the Owners of the Co. and get the SP going North = I'd really like the SP to be hovering around 75¢ or hearing a take-over offer around $1.75.

When the notice of AGM comes around I will jump on the same horse again and Lobby for a NO VOTE.

Dan