I am a relatively new investor, and I am trying to understand...

I am a relatively new investor, and I am trying to understand resolution 5. If I am not mistaken, the company has access to 15% of capital without shareholder approval. Why not tap that at a time like this??

It also only allows for 3 months which seems a very tight period. I have not been able to find examples where waivers of this rule have been granted (I was thinking that asking for $10m knowing you can extend the request without shareholder approval is actually not a bad plan if the funds are to be used for a profitable purpose down the road)

If I were a director and thought CCC was in trouble I would have opted for the 15%. The purpose described in the AGM is chilling to say the least!!

I also dont understand why you would present this request now. I have not invested in many small cap speccies, but an AGM is not the only time to get approval right? Why not wait for good news to come through?

Finally, rule 7.3.6 states that a company must disclose the intended use of the funds, let's hope this means more detail than was provided in section 6F

WEBK