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The directors have been given some share options which will benefit them if the share price rises.
Of course they know more than anyone else about the potential for the share price to rise - they run the company.
Absolutely standard practice.
I'm glad you didn't raise it at the AGM - you would have looked foolish.
Mitch NOMAD is a Nominated advisor. Every company on AIM adheres to a stringent set of rules and policies and MUST have a NOMAD in place. Without one the company’s shares are subsequently suspended and delisted. I’d have assumed you knew this given your challenges on the laws of something’s most see as immaterial.
Allenby is infa NOMAD
"A NOMAD is a corporate finance advisor, usually a boutique investment bank, which conducts thorough due diligence for the suitability of an AIM applicant for the exchange. The NOMAD, if satisfied with the company's business model, financial and operating track record, competence of executives and directors and intended capital structure, will assist the company in its preparation and application for admission to AIM. If the company and NOMAD are successful in their efforts, the NOMAD will continue to monitor its client — the LSE requires it. The NOMAD must act as the regulator, ensuring that the company complies with AIM rules at all times. The NOMAD also serves an ongoing role of providing advice on business operational or financial strategy."
Every regulatory aspect of the buisness goes through them for approval.
They even monitor directors tweets!!
Get well soon Mitch
John Wood
? @JohnWoo64494325
Interesting day in the office, Oil Capital first thing, still think they should of let me explain #infa to our friends!!!
AGM, nice to bring everyone upto speed, onwards and upwards. Given the conditions, really appreciate the efforts made to attend. #infa
Looks like he's another night owl up and posting at this hour of the day.
Hope you feel better soon, Mitch.
Regards, Si
Sorry just realised you were replying to my earlier post
See my earlier post Si ;))
Spud, anyone on the bench outside with a red hat and a bottle of Echo Falls in a brown bag? Mumbling to himself about warrants. :)
Only messin' Mitch.
Myself and another investor went to Infa presentation before the agm. It was very busy and the presentation seemed to go down well
Very bright ! This time next year Radders...............lol
Either you weren't there or you got shy! But I asked (on your behalf) about the options. Incentive to retain the 2 key members of staff until the end game! Agreed last year when the package was a 50% premium to share price but couldn't be announced as the bod were in a closed period. The options were over seen by the NOMAD (who was at the meeting) everything above board!!! Filter button time.....
Thanks Spud, very encouraging. The futures bright !
Great to meet everyone again (board and shareholders) I've been to four formal meetings in my time invested and this was the most professional imo and with the most attendees by far. We are in detailed talks with 5 equity partners We are in detailed talks with 6 potential offtakers The intention is to be income generating this year by managing the construction. Funded to FID
1.30p at 15:43 +15.56%
Still climbing!
Decent buying. Looking strong into the close.
Good to hear, Dawski, thanks. All is as expected. Hats (!) off to JW and crew.
Some good tweets occurring
TheLongerGame
?
@TheLongerGame
3m3 minutes ago
Warrants done ? Placing done ?Shenanigans done ? Oil conference done ? AGM done ?Off-take meetings done ? Deals to be done ? Anyone get the feeling the next few weeks are going to be very interesting. Over to you @JohnWoo64494325 knock us bandy! #INFA
TheLongerGame
?
@TheLongerGame
36m36 minutes ago
'Nice little rise. Funny how sentiment can change so quickly in the wonderful world of #AIM 2p+ will be here once any one of the 6 deals on the table has been chosen #INFA'
Resolution 1 Receiving the Accounts
The Board recommends the receiving of the accounts for the year ended 31 July 2018, together with the
Reports of the Directors and the Auditors.
Resolution 2 Re-election of Director
The Board recommends the re-appointment of Graham Lyon who retires by rotation in accordance with
Article 92.2 of the Company’s Articles of Association (“Articles”). He, being eligible, offers himself for
re-election.
Resolutions 3 & 4 Re-appointment of Director
The Board recommends the re-appointment of John Wood and Arun Raman, who both retire as each was
appointed following the last Annual General Meeting of the Company, in accordance with Article 87 of the
Articles. Each individual, being eligible, offers himself for re-appointment.
Resolution 5 Re-appointment of auditors and Directors’ authority to fix their remuneration
The Board recommends the re-appointment of Nexia Smith & Williamson Audit Limited as auditors of the
Company and for the Directors to be granted the authority to determine the remuneration of the auditors.
2
Resolution 6 Directors’ authority to allot shares
This is an ordinary resolution granting general authority to the Directors to allot new ordinary shares in the
capital of the Company up to a nominal amount of £50,000.00. This resolution renews the authority granted
at the last general meeting of the Company. The authority will expire on the date of the next annual general
meeting.
Resolution 7 Electronic Communications to Shareholders
The Company is seeking to send and supply documents or information generally (“Shareholder
Information”) (such as annual accounts and reports, notices of general meetings and forms of proxy) to
shareholders by making such Shareholder Information available electronically via a website, namely, the
Company’s website (the “Website”), rather than by post or other approved means....
Resolution 8 Disapplication of pre-emption rights
This is a special resolution authorising the Directors to allot ordinary shares for cash up to the threshold
described in Resolution 6 on a non pre-emptive basis pursuant to the authority conferred by Resolution 6.
The Board considers that the authority proposed in this Resolution is necessary to allow it to move quickly,
as it deems appropriate, when new funding sources become available to the Company without further
recourse to Shareholders. The authority will expire on the date of the next annual general meeting.
That was short and sweet!
Was anyone there?
What were the resolutions that were all passed?
Nice one ;) - shame spread there is 20% eh? Think Ill stick here for now... imo.
Will have to go some to beat AXM .......+46% so far today !
nice - in profit :)
£40k buy too... there today.
:))
on the way imo......wait till half two till half four thia afternoon and kapow !!!!