Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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"It also says above the table "The Board notes that resolution 7, which was proposed as a special resolution regarding the disapplication of pre-emption rights, was not passed. "
Surely this is good news for existing PI's no? We now qualify for new shares at a pro-rata of our last holding rights?
If they want us to vote for it the Bod need to come clean with details. They could I fear just say it’s the shareholders fault for not voting for their rubbish and lay the blame at our door if they are crooks!
"Now they'll have to squeeze any new RTO company's estimated mcap into the existing numbers of shares (but then no doubt do a mega placing upon return from suspension)."
My understanding is that would then leave them in a position of either: a) owning a minority stake in their own company, or b) having to outbid the market to buy a controlling stake in a company that, currently, they already own in full.
Hopefully the AIM rules permit another vote on that resolution. If we're told why it was necessary, maybe the result would go the other way.
HSD I think people's concern was that they'd allocate loads of free shares to undeserving BoD members like bumsden and then also dilute PIs to hell in the RTO process. Now they'll have to squeeze any new RTO company's estimated mcap into the existing numbers of shares (but then no doubt do a mega placing upon return from suspension - however as long as an RTO happens we'll all still be relieved).
Having said that, this is all guesswork and I'm FAR from an expert on such things as haven't held through such an RTO process before.
Re the return of Lumsden, if he has an ounce of self respect left he will move mountains to make the RTO happen in order to salvage his rep / legacy.
Like you say maybe we've cut our nose off to spite our face re resolution 7 but let's see how it plays out. It's still 'in god's hands', the next little red dot will probably be a cold sweat moment for all holders.
GLA!
Everyday is a school day. Only been trading a few months myself so thanks
As a special resolution it needed 75% to pass.
It also says above the table "The Board notes that resolution 7, which was proposed as a special resolution regarding the disapplication of pre-emption rights, was not passed. "
What am I missing as I’m sure it states it got 73% for on res 7 so why wasn’t it passed?
Resolution 7 didn't pass, so doesn't that mean the board can't allocate new shares to an RTO candidate?
Given that, is it even possible for an RTO to go ahead now even if there's a company that wants to? I'm aware of one or two ways, but hasn't today's result made it considrably more difficult (and therefore less likely)?
NEW to this things, if any can help ;)
So what we are waiting now for? are we back in the game.. any one know how long it gone take before is back on the market.. ,
I myself think it’s rigged. Hoping for a positive outcome for all, however I can’t see it unfortunately. Hope I’m wrong!!
Well now we know why BF was deramping.....adding 2 and 2 together....bring the price of the shares down....they get brought up by 'Unknowns' who vote for Graham....he then gets re-elected!
If i believed in conspiracy theories!
Having said all of that....I feel it could be good news as why would he be desperate to become a director if this was a dead duck :)
So fingers crossed and bring on the BOOM!
So Lumsden continues. Rigged vote