Originally posted by Neil1959
Good morning guys,
I am happy to address some of Bas' comments and give a little more explanation to my post and question, from yesterday.
"
Some other poster seems to have quoted me as not worrying about holders - of course I don't worry about QBL holders - worry about people you don't know?? Sheesh - the demands placed upon contrarians is becoming very onerous.
And shock horror - yes I do enter into ST trades. "
In my role with the company, I am specifically charged with caring for our shareholders. I am also contracted to take care of Digital Security content which is why I may, if required, be asking more questions this year to assist, correct or clarify comments made on Social Media in order to safeguard our investors/shareholders and the companies interests.
This is the new digital world in which we live, where clarification and quick responses from company media units are essential in order to respond to the proliferation of "Fake news" prevalent on SM Stock forums. Our company has a responsibility to our shareholder base to confirm what is factual, and also to sort through the white noise in order to help shareholders/investors discern between Fact and Fiction when they go to make an investment decision with our company.
" Seriously Neil - I thought you had more to offer than the typically mundane, pedestrian and parochial 'let's swing the mood of the crowd' approach."
As members are aware, I do not engage in personal attacks. Sholom specifically brought me on because he is aware that I have many years of experience as a mediator and I will always try and use a measured approach. The Board has requested that I address these situations, removing emotion, and to reply to any poster with respect, whether the comments be favourable or not.
"Well, well, well ... I hadn't picked you as having a theological disposition. Hmm ... is there any connection between you quoting from Proverbs 25:2 and the religious beliefs of the BOD? Are you members of the same church / synagogue by any chance?"
"And if we could - let's continue the religious theme for just one more post - so aside from proverbs 25:2 - it looks your question wants to move us into 'revelations'!
"
If I need to highlight a point, I am happy to use a known quotation. I have extensive knowledge of many religions and philosophies and to assure members,
I do not want to push or force a belief system.
Re the company's present trajectory well, " the journey of a thousand miles begins with the first step - Lao Tzu (quotation reference)" comes to mind.
This is where the company is right now with the changeover to Cann Global Limited. Queensland Bauxite Limited is about to embark on a new journey as Cann Global Limited. The Board, the management team, and shareholders whom I have spoken with have expressed their personal hope and best wishes for good results to come out of the new mergers and formation of the new Medical Cannabis and All-Natural Foods Divisions, as well as our global partnerships, moving forward into 2019.
Regarding the question about the waivers:
The waiver was pursuant to the re-compliance, that the ASX grants a waiver to issue shares at less than 20c. This waiver is necessary to enable the issue of the shares under the prospectus, there is no provision in the prospectus or in the re-compliance to issue shares at 2c, or at any other price not set out in the prospectus.
Please watch for further announcements and updates as we move closer to January 25.
Photos of the Processing Equipment at Coolum.
The All-Natural Foods Division of MCL (Vitahemp, VitaSeeds and HHC) have invested in world's best, proprietary dehulling and milling equipment. I have seen photos of the plant and will be visiting their factory in the coming months so that I can report back personally to shareholders. Unfortunately, any photos of the upgrades and the new equipment, will not be on public display for commercial reasons. From discussions with customers, looking at the quality of seed produced, and tasting the product, from my rural background (wheat, canola), I am satisfied and are happy to make comment on, that the end product, in my opinion, is of very high quality and meets the high expectations required by consumers in Australia.
Thanks,
Neil1959
I'm still trying to understand this reference to 2c shares in the 14 January Ann. Like I have said previously, if it's a typo then why haven't QBL BOD organised issue of an amended announcement? This is a legal document and it needs to be correct. After all you said "Our company has a
responsibility to our shareholder base to confirm what is factual, and also tosort through the white noise in order to help shareholders/investors discernbetween Fact and Fiction when they go to make an investment decision with ourcompany.”
Extracted from the 14 Jan '19 Ann:
Annexure A
(b) Grants a waiver ofListing Rule 2.1 Condition 2 to the extent necessary to permit the issue priceof aminimum of 57,000,000 and upto 170,000,000 Shares proposed to be issued pursuant to theProspectus (CapitalRaising Shares) not to be at least $0.20 per Share, subject to thefollowingconditions: (i) the issue price of theCapital Raising Shares is at least $0.035 per Share;......
Listing Rule2.1 Condition 2 is straightforward. As Neil (and others) said it is just awaiver from the condition of shares being issued at at least $0.20 forquotation.
Also from the 14 Jan '19 Ann, Annexure A:
(d) Grants a waiver oflisting rule 14.7 to the extent necessary to permit the issue of: (i) A minimum of 57,000,000Shares and a maximum of 170,000,000 Shares
at an issueprice of $0.02 each underthe Capital Raising Offer; ...
Listing Rule 14.7however had me a bit confused. It pertains to Meetings and reads as follows:
Chapter 19 reveals the following definition:
I don't recall any meetings mentioning any 2c share issues, however there have been so many prospectuses over the last few months that it's pretty hard to recall all details anyway!!
Perhaps someone on this forum can enlighten me as to how this listing rule applies to Annexure A, part d(i)?
Cheers all
Research can be such a brain strainer!
