RE: Annual General Meeting5 Jul 2023 07:59
Stokey, re; the last sentence of your 06:25 post. Resolution 6 is equal to one third.It says it in the document.
"nominal amount of £576,824.04, representing approximately one third of the issued ordinary share capital"
Then a further 15% in resolution 7.
"nominal amount of £259,570.82, representing approximately 15 per cent. of the issued ordinary share capital"
That's 48% of issue. Is that standard?
IDK, but I can't imagine that they would go to the bother of including it if they didn't intend to use it for something further on down the line.
I was of the mind that maybe they are planning some kind of equity for debt swap. They do like to "negotiate".
Similar to how they paid the final, already deferred, consideration for Appledore. Cash and shares.
Maybe shares for a finance deal and the promise big returns in the future.
Plus they would still have to pay back the loan. With a "single digit" interest rate, of course.
48% though?
Hmm? Never a dull moment. :)
GLA