RE: The herd descending.................................................................................6 Sep 2020 13:12
General Meeting and Shareholder Approval
As announced on 30 March 2020, Shareholder approval will be required for the Option to come into effect and to allow any New Ordinary Shares to be issued pursuant to the Fundraising. Ironveld now expects to publish the Circular required for the General Meeting in October 2020, assuming satisfactory completion of the project funding process.
Resolutions required at the General Meeting will include:
a) a Rule 9 Waiver Resolution, in accordance with the provisions of the Takeover Code;
b) by way of ordinary resolution to give the Directors authority to subdivide each existing ordinary share of 1 pence each into one ordinary share of 0.1 pence each and nine deferred shares of 0.1 pence each, with the deferred shares having the same rights and restrictions as the Company's existing deferred shares of 1 pence each;
So this tells me 10-1 consolidation. Why I dont know to help raise funds? 65.5 million shares only then so people will buy then mostly at sub 0.1p , a tenth of currently under 1p.