Member Info for GrandQ

As I said, it's the result of the AGM resolutions passed, it's available in PDF on the Companies House site now.

It will be the result of the AGM, resolutions passed.

Ibizamatrix1998

I seem to remember some discussion on here or ADVF-n that the impetus came from MSCI tracker funds needing to buy in when EUA went from Micro-Cap to Small-Cap, sadly I don't retain a lot these days and it was back a few years now so I don't remember details or what level of Market Cap triggered things, maybe someone else can add something other than speculation.

GLA

Robinsond013

"Yeah I put the lot in AI and it spit the summary out 😊"

Ha ha, well done, if only I had a brain I could have save myself 30 minutes of very monotonous reading!

GLA

Thanks robinsond013

You posted as I was typing!

Your comments are basically what I was saying, I think :-)

GLA

I have just looked again at the case Lovelyboy found and it would appear a Judgement has now been made, it's lengthy in it's explanation but I think the applicant has successfully stopped the share certificated being released to Queeld/Mispare until further appeals/proceedings are held/finalised.

I am definitely not sure about that as the whole legal profession is a mystery to me!

Perhaps someone with some more knowledge else can take a look and comment.

GLA

Queeld are supposed to be getting their share certificates today, in light of what was found on caseboard by Lovelyboy, I wonder if it will still go ahead or possibly prompt some further comment from EUA.

https://caseboard.io/cases/5523b3ea-8270-4aa0-82f2-f4f829e0196e

GLA

Recalibrate88

They were issued at 2.3p not 1.98p

GLA

The resolutions 6 & 7 at last years AGM were almost identical to this years resolutions 6 & 7 except for the aggregate amount being asked for, last year £500,000, this year £300,000.

Resolution 6 passed with 68.48% votes for, an ordinary resolution.

Resolution 7 failed with 63.82% votes for, a special resolution.

To my knowledge the Directors have not (yet) used the authority granted under resolution 6.

Having watched the Webinar a few times I believe C.S. and the board are doing their best under very difficult circumstances, it's easy to say they should have accepted an offer before the SMO and Covid, with hindsight I could have been a billionaire!

I do think they will get a result but have no clue when or for how much.

I will be voting in favour of all resolutions except 7.

No advice intended.

GLA

Chriszzr

It's on the Investor Meet Company website.

You probably have to register.

Del929

I get a different figure, higher than yours, but no matter, both figures (yours and mine) indicate that if Tranches 1 & 2 are drawn then CS's collateral shares would not entirely cover it.

Why is everything EUA so difficult!

Lets hope tomorrow clears up a few things.

GLA

Del929

Do we know he's not activated it? I'm not sure if it would require an RNS given that the earlier RNS stated it would be drawn on or around 24th September.

GLA

Del929

Pretty much ties in with what I was thinking for your 1st paragraph.

Not sure I understand the 2nd part about the warrants and CS getting cash from that.

I was going to vote yes to all initially but having pondered it for a few days and tried to understand the logic behind it from every point of view I am now more inclined to vote no to the issue of shares resolutions.

Tomorrows webinar may change that view again, but I suspect it will be a bit of a damp squib.

GLA

I'm trying to understand the complicated (to me) situation here with TFLA and the need to issue more shares, hence my earlier (unanswered) query to the forum.

What I don't get is if we have already drawn down tranches 1 & 2 according to the RNS 6th September we have enough funds to last to Sept 2025.

If we don't allow more shares to be issued is that one of the reasons CS had to put up his shares as collateral so that Sanderson could claim and sell them (because we shareholders have not let the company issue the required shares to Sanderson)?

And if that is the case why should we vote in favour of issuing new shares for that purpose or any other purpose currently, it's covered by CS's collateral?

Am I more confused than I think?

GLA

Sorry, obviously meant to sell later not to convert later

I am struggling to understand the reasoning behind CS putting up his shares as collateral, does it mean if we don't allow the BOD to issue more shares Sanderson will take CS's shares to convert later as per TFLA (to cover the amount/s drawn so far).

GLA

Buttybach

If you haven't already register for the webinar and put your questions in before 9am tomorrow.

GLA

MAB

Whilst I obviously think the Webinar is a good thing, I don't think it represents any major shift in CS's behaviour or thinking.

From the Investor Meet Company site :-

' Whilst the Company may not be in a position to answer every question it receives, it will address the most prominent within the confines of information already disclosed to the market.

I am expecting much the same as we got from the AGM questions last year. C.S. will try to clarify those things the company thought were clear already but shareholders don't, there will be no major news unless RNS'd prior to the Webinar starting.

There will be a lot of 'can't comment due to NDA's or confidentiality'.

I've been invested in EUA for many years, around 2001/2 from memory and have always believed CS to be doing his best and aligned with shareholders, and I hope I am correct but that does not mean I am.

GLA

Del929

Thanks for asking them and posting the reply, as usual the answer just generates more speculation.

Perhaps the board think they will give satisfactory answers to nearly all questions and YJ will no longer be needed to fend off shareholders.

Probably not that though!

GLA

Del929

Ok, I have posted that question on the site.