AGM resolutions 4 & 518 Jun 2018 10:25
To explain for any who need it, caveated by this is what I understand (but am confident of but don't want to fall foul of any rules) so make sure of your own understanding yourselves.
Resolution 4:
Is the board requesting shareholder agreement for the ability to raise cash..... this is based on the nominal share value (0.02p) which gives them authority to issue 666,665,000 shares (GBP133,333.00 divided by .02p).
Resolution 5:
Under rules any fundraising must first be offered to the existing shareholders of the company (i.e. you and me) before it is offered to anybody else so...... resolution 5 is asking for shareholder approval to waive that right.... effectively permitting them to raise funds at whatever price they can with whoever they find for them, to do whatever they want & in my opinion where it is fraught with danger from people with larger pockets & different agenda's!! but that is my opinion in that these 'others' may or MAY NOT have the interests of PI's or the company foremost and would simply see it as an opportunity to pad those pockets further!!!!
So if you accept the company will need additional funds voting YES to resolution 4 allows them to do that..... but if you want to make sure you get the option to participate vote NO to resolution 5 - if you do vote no though & there is not enough shareholder take up in an offering they can also have it supported by those you're trying to lock out by saying NO in the first place...... so they can then reach out to the usual suspects that have, in my opinion, stuffed us up in the last placing.
If you don't accept the need to raise funds vote NO to 4 and 5 and they will then need to obtain specific shareholder approval prior to any further fundraise until at least the next AGM when we get the opportunity to vote again...
Hope that helps ....
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