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.
In sept 3rd rns there will be consolidation of shares 10-1 so am awaiting that then get in.
Hi I am in vela who have a much smaller investment in Weshop are we getting nearer to ipo for Weshop q2 2020 in 2019 rns. Is there enough funding for Weshop now? Any help would make me decide about stay or sell from Vela with only 1.4% stake in Weshop. I got in on the hype buying huge buying all Friday couldn't get a quote myself. Broker got me in.
Nearly twice as many buys than sells so hopefully 0.1p soon for starters. Then who knows 0.2p and onto 0.3p-0.5p. Vela few years back was one of best risers for that year. Lets hope that repeats again!!!
It's not been pumped peeps were buying in since 0.05,0.06p it didn't move the sp as there are 7.7 bn shares to get thru. Its had on 27th aug a holdings rns, weshop still doing great business and so are other interests vela has so should easy 3 bag from here.