Some people seem to be so excited about Capital's increase in share holding.
Hello?! Didn't you fellas read the restructuring RNS?! Capital has subscribed to a pre restructuring "Initial Share" offering of 54m shares at 0.82p (now before someone comes up with .82 vs 82 question, the price is below 1p!) which Capital has agreed to use to vote in support of the restructuring deal.
selector, the new shares you refer to, do you mean the Capital buy? If so, there was already some headroom in the existing share capital that hadn't been issued. 100m, I think, although that may not be quite accurate. So the authorised and issued number of shares has gone up by the amount Capital bought.
If I understood your question, yes it's perfectly lawful.
Id be more than happy with 20p a share on takeover, once we have 20 billion shares in offer. That would be 4 billion quid or 6 billion dollars for Shaikan, since we've given the rest away for nothing. Crooked morons.
"the fact that the shareholders are being asked to vote on the debt restructuring before the prospectus outlining the proposals is released."
andy.p, Shareholders are only being asked indirectly to vote on the debt restructuring. The SGM is solely to ask shareholders to approve the increase in share capital, which is the step needed before restructuring can happen.
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