Reality check4 May 2018 18:17
Currently there are 407,462,717 shares in issue.
At the AGM they are asking via resolutions 6 and 7 to raise an 'aggregate nominal amount of four hundred and seven thousand four hundred and sixty two pounds and seventy one pence (�407,462.71)'. The nominal value of each share is 0.1p � so they are asking to have the authority to double the number of shares in issue.
Today's RNS announces that they have conditionally raised �950k [there will be costs involved] through the issue of 47.5 million shares. As they have no current authority to issue shares this must be approved at the AGM on Tuesday.
If resolutions 6 and 7 are passed the bod will have the authority to issue approximately 360 million more shares within the next 15 months. To me this is a red flag warning of further dilution.
Please remember, this is in my unprofessional opinion, dyor etc.