Really Global Metal Exploration Board of Directors does do whatever they want and none of the regulators ASIC or ASX do anything or take any corrective action.
I wonder when GXN is going to send the final Appendix 3B to ASX to request for quotation for the new 486 million shares.
Without an Appendix 3b, those new shares are still trading on a deferred basis and unable to vote, neither to trade.
It is clear that both the company and Advanced Share Registry issued the shortfall of the rights Issue and made that shortfall (450 million shares) available to vote at both the 249D meeting and at the general meeting yesterday. The legality of that action is in question but no regulators will do anything.
All documentation show that those shares were not entitled to vote, but Global Metal Directors have been and will continue to do whatever they like, because the Australian Market Regulators seems to not care about GXN rules violations by their actions.
DYOR
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