RE: Explanation5 Nov 2021 19:37
At a Europa Metals meeting held on 15th July 2020 the following resolution was passed.
Resolution 11.
Disapplication of Pre-emption Rights (authority to allot securities for cash consideration purposes)
To consider, and if thought fit, to pass with or without amendment the following as a Special Resolution:
“That, subject to the passing of Resolution 2 and for the purposes of clause 3.8 of the Proposed Constitution, the Directors be authorised to allot and issue equity securities for cash limited to 8,361,104,825 (pre-Consolidation) equity securities (being equal to 50% of the issued share capital of the Company as at the date of the Notice of Meeting) and that this authority shall expire at the earlier of the conclusion of the next annual general meeting of the Company and the date of twelve (12) months from the date of passing this resolution.”
This resolution was passed on the 15th July 2020.
It clearly states “at the earlier of the conclusion of the next AGM .
The next AGM was then held on the 30th November 2020.
So it in effect expired on the 30th Nov 2020.
Even if they meant this coming AGM ….it had already expired on 15th July 2021.
Come on guys….wake up please. Help me get legal advice.
What they have done in my opinion is illegal!!!!
Should we involve the Nomad ?