focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Good point Shaa.
Latest accounts show a FY21 profit of just £292k and their basic website states:
Anavio partners with sophisticated investors to proactively engage in liquid events connected to equity issuance
Early Warning Reporting
Under sections 5.2(1) and 5.2(2) of National Instrument 62-104 – Take-over Bids and Issuer Bids (NI 62-104), every person or company, who, either alone or with others who are acting jointly or in concert, acquires securities (other than by way of a take-over bid or an issuer bid made in accordance with Part 2 of NI 62-104) so they then hold, together with any previously acquired securities, beneficial ownership of 10% or more of the issued voting or equity securities (including securities convertible into voting or equity securities) of any class of a reporting issuer must (subject to certain exceptions):
Press Release. Issue and file on SEDAR a press release immediately containing information required in Appendix E to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (NI 62-103), to disclose their identity, their intention and the extent of their holding.
Report. The purchaser(s) must also file on SEDAR a report containing the information listed in Appendix E to NI 62-103 within two business days.
The early warning disclosure requirement also applies if the purchaser(s) acquire the power to exercise control or direction over 10% or more of the issued voting or equity securities.
The same early warning disclosure requirement applies each time:
Such purchaser(s) acquires ownership of or the power to exercise control or direction over either:
An additional 2% or more of the outstanding securities of the same class referred to in the most recent previously filed early warning report.
Securities convertible into an additional 2% or more of the outstanding securities of the same class referred to in the most recent previously filed early warning report.
There is a 2% decrease in ownership.
A shareholder's ownership interest falls below the reporting threshold.
There is a change in any material fact in the disclosure required in the most recent previously filed early warning report.
The purpose of the requirement is to warn the marketplace that a take-over bid could be imminent. The purchaser must specifically disclose in the early warning report the purpose in making the purchase including any future intention of the purchaser and any person or company acting jointly or in concert with the purchaser to acquire beneficial ownership of, or control or direction over, additional securities, of the target-reporting issuer.
During the period beginning on the occurrence of an event that triggered the early warning report and ending on the expiry of one business day after the date that the disclosure is made, the purchaser(s) required to make the disclosure or any person or company acting jointly or in concert with them shall not acquire or offer to acquire beneficial ownership of any securities of the same class or any securities convertible into securities of that class except in the case of a purchaser who has beneficial ownership of, or the power to exercise co
Someone mentioned yesterday that it would be circa £500 for a flight to the AGM.
Considering good posts often solicit circa 25 likes, that would be £20 each so we could all chip in and contribute for a representative to attend the AGM.
We could then set up a social media group or WhatsApp group or similar so all contributors could work together compiling a list of the key topics to raise at the AGM.
Double the contribution and a couple of people could go for moral support.
I'm sure £40 more into the pot would be worth it and feel like we are doing something positive rather than fighting the trolls on here.
Thoughts, and any volunteers to attend??