RE: Red Flag27 Jul 2019 12:03
I don't like to hide anything so let's play with cards on the table:
''Your director sma yonly allot shares or grant rights over shares if authorisedto do so by the shareholders.Yourdirectorsals o requ ire additio nal authorityfrom shareholdersto allot shares or grant rights over share s wherethey propose to do so fo r cash or otherwisethan to ex isting shareholderspro rata to the ir holdings.Suchaut horit ies we re granted at the Annual General Meeting on 21 August 2018 and are due to ex pire at theCo mpany’s Annual Ge ne ral Me eting in 2019 and theref ore require renewal.These resolutions,if passed, willcontinueto gi ve the di rectors flexibility to act in the best inte rest of the shareholders,when the opportunityarises, by issuing new shares. Re solution 8will there fore be proposedasan ordinary resolutionto grant anewaut horit y to al lot unissuedshare cap ital up to an aggregatenominal value of £1 ,424,83 1, representingapproximately100 pe r ce nt. of the issued or dinary share capital. Resolution9 will be propose d as a specialresolut ion to all ot shares or grant ri ghts ove r shares for ca sh and otherwisethan to ex isting shareholdersprorata to their holdin gs. The authoritywill be limited to shares to a maximumaggregatenominal value of£1 ,42 4,831, bei ng approximately100 per cent. of the issue dordinary share capital. This authority ,if given, willexpire on the earl ier of the conclusionof the next Annua l Genera l Meeting in 202 0 or on the date which is15 months after the rele vant res olution is pa ssed. These auth orities ar e being soug ht to maximisetheCo mpany’s financi al and operationalflexibilityonly and do not override the ru le of the London Stock Ex changeand Financial Servi ces Authoritywhich the Com pany rem ains subject to.Resolution9This is a resolut ion to authorisethe Co mpany to hold gen''
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