Resolution 6 & 7.. (withdrawn)8 May 2018 13:21
Resolution 6 � allotment of share capital At a General Meeting of the Company held on 21 December 2017, the directors were given authority to allot ordinary shares in the capital of the Company up to a maximum nominal amount of two hundred and sixteen thousand four hundred and five pounds and forty one pence (�216,405.41), representing approximately 100 per cent. of the Company�s then issued ordinary share capital.
The Board considers it appropriate that authority in respect of a similar percentage of the issued share capital be granted to allot ordinary shares in the capital of the Company. Accordingly the Board is seeking authority to allot ordinary shares up to a maximum nominal amount of four hundred and seven thousand four hundred and sixty two pounds and seventy one pence (�407,462.71), representing the aggregate of 100 per cent. of the Company�s issued ordinary share capital as at 10 April 2018 (the latest practicable date before publication of this letter), during the period up to the conclusion of the next AGM in 2019 or, if earlier the date 15 months after the date of the passing on the resolution.
As at the date of this letter, the Company does not hold any ordinary shares in the capital of the Company in treasury.
Resolution 7 � disapplication of statutory pre-emption rights Resolution 7 will empower the directors to allot ordinary shares in the capital of the Company for cash on a non-pre-emptive basis: 1 in connection with a rights issue or other pro-rata offer to existing shareholders; and 2 (otherwise than in connection with a rights issue) up to a maximum nominal value of four hundred and seven thousand four hundred and sixty two pounds and seventy one pence pounds (�407,462.71), representing 100 per cent. of the issued ordinary share capital of the Company as at 10 April 2018 (the latest practicable date before publication of this letter).
The Board considers it appropriate to seek the levels of authority sought under Resolutions 6 and 7 in order to give the directors flexibility as the Company moves to the next stage of its development.