.21 Nov 2013 09:23
"Resolution 5: Authority to Allot Shares
This resolution would give the Directors the authority to allot ordinary shares of 1 pence each in the capital of the Company (“Ordinary Shares”) or grant rights to subscribe for or convert any securities into Ordinary Shares up to an aggregate nominal amount of £900,000 (representing 90,000,000 Ordinary Shares). This amount represents approximately 53 per cent. of the issued ordinary share capital of the Company as at 19 November 2013, being the latest practical date prior to publication of this Notice of AGM"
"The authority being sought pursuant to resolution 5, replaces the authority granted at the General Meeting on 20 June 2013. Further to the General Meeting the Company has not allotted any shares, however the board continues to require the flexibility, which this resolution offers, as it may be required in closing additional funding through the gearing of the Company’s balance sheet or the introduction of alternative or vendor loan finance."
"The authority and power pursuant to Resolution 5 will expire on the earlier of 15 months from the date Resolution 5 is passed or the conclusion of the Company’s next AGM"