RE: Remaining authority23 Mar 2021 13:32
Penguins,
Stop ramping; only 883384976 left. The statement "The PW payments were agreed under the previous authority so don't count against this authority." seems incorrect; see Resolution 4 from the AGM below:
"Resolution 4 – Directors’ Authority to Allot Shares
This is an ordinary resolution to grant the Directors with authority to allot and issue shares and
grant rights to subscribe for shares in the Company for the purposes of Section 551 of the Act
up to the maximum aggregate nominal amount of £300,000. This resolution replaces any
existing authorities to issue shares in the Company and the authority under this resolution will
expire at the conclusion of the next annual general meeting of the Company. "
At the [17 June] the Directors received authority to issue £300k of shares at a nominal value of 0.01p a share. That equates to 3 billion shares. Shares issued since then
25 June - 129,375,000
16 July - 131,014,769
2 Oct - 1,374,999,993
4 Dec - 68,750,000
11 Feb - 412,475,262
Total - 2116615024
Authority remaining - 883384976