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Cheers SB, easy as that lol
Investors and then circulars and notices
Hi all. My account is held with IG and they have instructed me to complete the form of proxy. As per RNS it says the form will be available on the website but I cant find it. Does anyone know where or have a link to it?
Thanks KentRed and Monkey70
I was waiting to hear from HL ?
I have just contacted them to request my right to vote form as nothing received yet.
Never had this issue with IAG or SAGA, the offer was automatically generated by HL before ?
Since I cannot hear (and thus use the telephone) I sent a secure message to HL with my instructions to allow the Chairman as a proxy to vote in favour for all the motions. They will get back to me to acknowledge this in a secure message online.
I have also sold some shares from my non-ISA earlier (15% of my total holding so a small amount, relatively speaking) to transfer to my ISA to fill the £12k remaining allowance since HL do not do Bed & ISA. If news drops before settlement, ah well - but I'll take my chances.
GLA.
I have just voted. You have to ring HL to cast your vote and request a secure message be sent to you to confirm it was actioned. Not the easiest of processes and was on hold for ten minutes before they answered. But i believe this is worth the trouble as EUAA need our votes to get this pushed through and it is a good thing! Trust in the BOD.
Ask your broker (HL) if they haven’t already been in touch with you about the vote.
The last raise for 10mil at 22p was at full ask to the sp at time of issue. A discount to market is not a given.
No you don’t have to vote, but why wouldn't you? Votes not cast are irrelevant.
Yes, good point Dark Energy - my mistake. Also agree that it's an option at this point rather than a done deal.
fish
Agreed!
Builder,
As Spurs says it's £250K worth at nominal - i.e. 250M shares, issued at some discount to market sp, say £50M
but I think we're all agreed it's the option to do that that is important not the doing of it
It isn't for £250K its for the option if required to issue 250 million shares with a nominal value of 0.1p = £250K
It is a small 9.1% increase in available shares should it be executed ?? Not a a huge dilution in my view and any share sale would boost cash in the bank. So not sure why people are crying and making big about things about "Dilution"
If I had any dry powder left I would continue to add to my holding here and await the expert BOD to work their magic.
GLA
We appear to have plenty of cash DarkEnergy. If we didn't then £250k would be a drop in the ocean.
Investor12 - it's about granting the BoD authority to issue shares up to a maximum nominal value of £250k (so max 250m shares given its 0.1p nominal value - your shareholding states this as "Eurasia Mining Ordinary 0.1p"), valid between date of it being passed and the next AGM.
As mentioned it is standard within each AGM's list of resolutions, classed as a "special resolution" as the BoD wish to bypass existing shareholder pre-emption rights, and effectively have the authority to choose how and to whoo any of the new shares will go to (Companies Act requires this type of resolution to be passed with 75% majority, as opposed to a simple > 50% for Ordinary Resolutions).
Apart from that nobody knows how the BoD wish to utilise this: so how many of the 250m shares they intend issuing (if any), how much they wish to raise and for what purpose (if anything), or doing this direct with Institution Investors or via Open Offer to all, is purely guesswork. The fact they cannot seem to wait until the next AGM in c.September time suggests they want to do something near term and need this resolution passed/ string added to their bow.
Hope this helps.
If EUA run out of cash, or there is even that prospect, then that is bad for everyone who is long regardless of any other opinions
It seems to me that it's in everyone's interest to vote Yes (unless you really want the share price to drop!)
btw there is no evidence that I know of that DLA Piper are or would act for free - so if they are billing time that is not cheap...
They will not be issued at all. The right to issue will be approved though.
RedPanda!
They are not going to issue the shares at 0.1p!
The shares have a nominal face value. £250,000 of shares at nominal value = 250 million shares at all. The shares will be issued at discount to current price, of course. But not at 0.1p.
"The Directors are confident that the ability to allot securities and demonstrate a capacity to develop the Kola PGM and battery metals district independently of other strategic options available to the Company benefits the Company and its Shareholders by improving Eurasia's negotiating position."
"The resolution proposed is a standard resolution proposed and passed at all recent Company Annual General Meetings but which, for reasons related to delays in processing votes held in Nominee accounts was not passed at the 2020 AGM held on 18 September 2020."
End of!
All a matter of who you trust most. Up to you...
As discussed before, this EGM will provide the company with a defence against a hostile takeover - the rights issue would be the 'poison pill' defence. Hopefully putting this option in place will speed up a conclusion to the FSP.
Still pushing that short then ...
They don’t need cash and if they did it would be a lot more than that in share qty surely ?
It doesn't mean they are going to raise money by the new shares though does it? Its just a vote to say they could if wanted ..this is correct isnt it?
If it did go ahead is it a rights issue or just nee shares added to market ?
Strange that the better this appears to get this year the share really isn’t doing jot ?