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new Articles 11 to 16 provide that there will be pre-emption right provisions in relation to any issue of shares in the capital of the Company for cash in excess of 500 per cent. of issued shares in any 12 month period. Nobody wants to the shares already issued? Obviously something coming in 2019 for Zorbas to beleave shares will be brought!
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All three rights are held by LPU, which in turn is 100% owned by UML. UMH is permitted to return the shares and take back the licence. I wonder if being under urumetals it will diminish all the confusion of who owns who and the clauses UMH imposed. Making Zebedelia more sellable than before with the percentage clause by UMH if mined!
shares are not held in public hands if they are: (1) held, directly or indirectly by: (a) a director of the applicant or of any of its subsidiary undertakings; or (b) a person connected with a director of the applicant or of any of its subsidiary undertakings; or (c) the trustees of any employees’ share scheme or pension fund established for the benefit of any directors and employees of the applicant and its subsidiary undertakings