Metals Exploration Share Price (MTL)

Thanks for the reply Carefree. I realise they can't raise money below the nominal share value but I'm not so sure they can't create and award shares as part of an incentive plan. You sure about this?

If the share price was below the nominal value then they would not be able to issue shares under the incentive plan, hence the need for the capital reorganisation.

The board needs shareholder approval to be able to issue shares. The only permission that the board sought was for the issue of the incentive plan shares.

When the board has sought permission to issue shares in the past it has been voted down.

The purpose of the Capital Reorganisation as a whole is to: (i) enable the Company to issue shares in future at an issue price which significantly exceeds their nominal value; and (ii) create a reserve by cancelling the deferred share capital of the Company as well as cancelling the Share Premium Account
--------------
Where does it say this is needed to issue shares under the incentive plan?

Tygra - If you keep posting nonsense then I will keep replying to correct it and post the truth.

"terrible management team" - who have turned the company around from the brink of bankruptcy and have managed to pay off $68m of the Senior debt over the previous 6 quarters leaving $12m of the Senior debt left to pay.

"the company is failing its shareholders and the price is half what it was last year" - or over double what the share price was just before Darren Bowden was appointed in 2019 (0.45p Dec 21st 2018)

"in my opinion there will be a cash raise for 'other opportunities'" - no resolutions were passed that allow the board to issue shares for anything other than the share incentive scheme.

"You can continue to post your nonsense and put your fingers in your ears as much as you want" - I posted your recommended action back to you and now you declare it as nonsense. So why should we take any further notice of you?

Price you can sell your shares for:

21-Jun-22 10:58:56 1.131 84,658 Sell* 1.10 1.20 957.48 O
21-Jun-22 10:35:03 1.131 77,506 Sell* 1.10 1.20 876.59 O

Again, this is a zombie company with a terrible management team doing nothing to add value or attract a new investor base. You can continue to post your nonsense and put your fingers in your ears as much as you want. The share price is declining and in my opinion there will be a cash raise for 'other opportunities' before any value adding RNS arrives.

My last post on this chat board, I'll come back when the cash raise happens or if there's a value adding RNS that moves the price. You will no doubt reply and state, 'deramper, troll', or some other accusation towards my motives for posting (clue, the company is failing its shareholders and the price is half what it was last year, that's the opposite of adding shareholder value).

Enjoy your echo chamber and goodbye.