They issued those within their placement facility limits to settle debts and/or pay for services provided to the company. My view is that's fine as it preserves the cash for funding activities that have to be paid for. I suspect at least part of those shares were issued to the parties that were the subject of resolutions 6(a) and 6(b) (total owing to them of US$450k) as those resolutions were voted down at the EGM, presumably due to the proposed issue price being 1.4c, hence the shares were issued to them at 1.8 instead.
VEC Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
