RE: EGM. What do posters make of that bit. IMO22 Oct 2019 09:04
That's the reason given for the EGM and the solution is to agree on the right to issue up to 20% more shares.
But here is the thing: in May they agreed at the AGM to have the right to issue 7,095,000 and now they want to increase that to 7,871,000
So is there a specific thing they need these shares for in order to raise funds?
'The authorisation is proposed to be used for material arrangements from the Company's point of view, such as financing or implementing business arrangements, investments or for other such purposes determined by the Board of Directors in which case a weighty financial reason for issuing shares, options or other special rights entitling to shares and possibly deviating from the shareholders' pre-emptive rights, would exist'
2 points of interest here.
1. Implement business arrangements (deos mean a partner)
2.it could possibly deviate from shareholders premtive rights (that means they can decide if we cannot buy these shares)