tz blog article, page-4

this resolution make no sense to me.

1. is resolution 8 needed (extra 10% on top of 15% already allowed) because tzl plan to raise at near the 5 c ? because just 15% allowance of 30 m shares ( 200 m shares x 15 % ) at 5 c would only give $ 1.5 m. BUT with extra 10 % then tzl can raise 50 % extra money at 5 c.

2. OR is tzl going to finally give shareholders return and pump share price after patterson have options voted and issue 15 % allowance at higher price and then 10 % allowance at even higher price ? (we know tzl has done its worst this year at this - compare to about 1 year ago).

we donot know but if it is first option then it will be obvious if it happen that this was the whole plan.

what i find is very strange in resolution 8 AND THIS IS IMPORTANT is the resolution says that if no deal is done to use 10% to give to investor who will buy assets ir invesmentment then tzl can use money from 10 % allowance for GENERAL WORKING CAPITAL. please can somebody correct me but is this like asking me to sign a cheque with no value included.

what i donot follow is that because tzl is nearly profitable AND has $ 4 m AND this money can last years AND already has 15 % allowance. then WHY does tzl need resolution 8 for GENERAL WORKING CAPITAL.

BECAUSE i donot know real reason for resolution 8 i am voiting against it. 75 % of votes are needed for this (usually 50% % for resolutions ) so this shows what important resolution it is. I HATE THIS RESOLUTION becuase tzl is asking me if it can issue shares for investment (sound good) BUT if not then they can use it for anything they like.