Hi FB...
I am no expert on the legalities but my understanding is that a listed company can issue new shares up to 15% of the current shares.
If there is to be issued more than 15% the shareholders must approve the amount over 15%
For more clarity, the 15% I understand is a once per year opportunity unless ratified by the shareholders.
I believe the EGM was asked to Approve the amount over the amount the Board was allowed to issue alone (ie greater than 15%). I think this was Resolution 1.
Then there was resolution 6 which asked for ratification of the Boards earlier issue of shares. As a ratification of that decision, the Board would have refreshed its right for another issue, if needed within the time limitation that applies.
So your reference to "the first tranche of shares had already been issued" would be the shares under the 15% allocation.
As I said, I'm not expert on these issues. I did try to recheck the 15% calculation against the share numbers referred to in Resolutions 1 and 6 and failed. So more specific research is necessary to explain the calculation.
I would suggest that Jeff Carter would a logical one to check with on the numbers referred to in the UNI EGMeeting docs.
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