Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Agree that it's best to keep share buy backs and share placings options open. If they had ruled out placings I would have loaded up big time - what a statement of confidence in revenue that would be. Not yet eh. We can dream.
Hi,
My understanding is that as resolution 5 was passed which allows shares to be issued ( if needed) for up to £18,553,007 then the subsequent resolutions 6 and 8 were not needed and withdrawn. I assume if resolution 5 was voted down, then 6 and 8 were there as an alternative. Bit complicated but that’s how I understood it.
Special res 9 passed which allows share buy backs. Personally don’t see this happening yet while we’re are very much in growth phase. Would be a good option going forward however, especially if shares appear undervalued.
BB2
i dont understand the significant of 6 and 8. what is it for ?
Before we get excited - resolution 5 allows them to issue more shares at will.
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Thanks Kalan and Roswall - Yeah I didn't think that they would limit themselves in that manner. We might not like placings etc but it would be very poor business practice to not have all options open during a financial year
Before we get excited - resolution 5 allows them to issue more shares at will.
Sorry, ran out of time. Here is the link.
https://jubileemetalsgroup.com/wp-content/uploads/2019/11/Jubilee-Metals-AGM-Notice-CL_final.pdf
Ordinary Resolution 6 That the Directors be generally and unconditionally authorised, in addition to the authority sought in Resolution 5 above pursuant to and in accordance with section 551 of the Companies Act 2006 of the United Kingdom (“the Act”), to exercise all the powers of the Company to allot and make offers to allot Relevant Securities up to an aggregate nominal amount of £ 18 553 007 (representing approximately 100% of the Company’s issued share capital) and subject to the passing of Ordinary Resolution 5 and Special Resolution 8, such authority shall, unless previously renewed, extended, revoked or varied by the Company in general meeting, expire on the conclusion of the next Annual General Meeting of the Company or 31 December 2020 provided that the Company may, at any time before such expiry, make an offer or enter into an agreement which would or might require Relevant Securities to be allotted after such expiry and the Directors may allot Relevant Securities pursuant to any such offer or agreement; as if the authority conferred hereby had not expired.
9. Ordinary Resolution 7 In accordance with the Disclosure and Transparency Rules this resolution must now be passed to allow the Company to use electronic forms of communication. Your Board is proposing that they should be given authority to supply documents and make information to members available on a website. Before the Company can communicate with a member by means of website communication, the relevant member must be asked individually to agree that the Company may send or supply documents or information to him by means of a website. The Company must either have received a positive response or have received no response within the period of 28 days beginning with the date on which the request was sent. Shareholders can complete the form enclosed with this Notice and return to the Company at the address indicated on the form. The Company will notify the member (either in writing, or by other permitted means) when a relevant document or information is placed on the website and a member can always request a hard copy version of the document or information.
Special business 10. Special Resolution 8 That, subject to and conditional on the passing of Resolution 5 above, the Directors of the Company be and are hereby generally and unconditionally empowered, pursuant to section 570 of the Companies Act 2006, to allot equity securities (as defined by section 560 of the Companies Act 2006) for cash, either pursuant to the authority conferred by Resolutions 5 or 6 above or by way of a sale of treasury shares, as if section 561(1) of the Companies Act 2006 did not apply to any such allotment, provided that this power shall be limited to:
(a) the allotment of equity securities pursuant to an offer or issue by way of rights, open offer or other pre-emptive offer:
(i) to the holders of ordinary shares and any other person entitled to participate therein in proportion (as nearly as
Ordinary Resolution 6
That the Directors be generally and unconditionally authorised, in addition to the authority sought in Resolution 5 above
pursuant to and in accordance with section 551 of the Companies Act 2006 of the United Kingdom (“the Act”), to exercise
all the powers of the Company to allot and make offers to allot Relevant Securities up to an aggregate nominal amount of £
18 553 007 (representing approximately 100% of the Company’s issued share capital) and subject to the passing of Ordinary
Resolution 5 and Special Resolution 8, such authority shall, unless previously renewed, extended, revoked or varied by the
Company in general meeting, expire on the conclusion of the next Annual General Meeting of the Company or 31 December
2020 provided that the Company may, at any time before such expiry, make an offer or enter into an agreement which would or might require Relevant Securities to be allotted after such expiry and the Directors.
They've pulled resolutions 6 & 8 - Anyone have a scooby what they were ?
If any one is attending grateful if they could post any exciting news on project developments etc.
Thanks in advance.