RE: CRV20 Jan 2016 10:23
Just looked again at the EGM resolutions, position after EGM (no brainer) authorised share capital will be 52,280,038,212 ordinary shares. Current issued shares 805,540,000 that leaves 51,474,498,212 shares that the directors can allot. Anyone else done the maths and come up with the same rediculous answer I am coming up with if all of those shares are allotted at 1.25p.
Put another way - if the company was raising £50m at 1.25p per share they would only need to have an additional 4,000,000,000 shares why are they seeking permission to have access to in excess of 12 times that amount.
Have I missed something?