I would be more concerned with "Resolution 1" Ratification of prior issue of shares under placement."
IMO only,
These shares were a secondary placement following on from the previous one earlier in the year. Subsequently, I also believe that GPP/King had an inkling the 249D was going to be served and as such, the second placement was only an exercise in getting shares to mates to stack any possible vote to remove the board.
The company has never provided information as to who these shares were issued to, but with the sudden departure of Bulesco, I wouldn't be surprised if they went to Xcel Capital......
Furthermore, these shares were issued using the remaining annual placement capacity (Listing rule 7.1) but they now want shareholders to approve/ratify these shares to enable them to (top up the capacity) and issue the shares as per "Resolution 2 - Approval to issue consideration shares to the Ion Minerals Vendors" to which the the vendors just happens to be the 2 "proposed new directors."
Some perplexing points -
1: With the history of the company not being transparent it has deemed it not necessary to disclose the findings of the independent reviews or project reports and want us to vote on issuing consideration shares with only their say so including no information on who conducted these alleged reviews ........
King's laughable comments about how exciting it is for GPP and that there is a clear path to commercialisation was only eclipsed by Cameron McLean's "Ion Minerals has worked hard to secure some of the best high grade Australian battery material projects" - based on what one could ask.
Prior to his selling out of GPP
@Davy Boy offered a lot of information on these "best" projects in these posts
https://hotcopper.com.au/threads/gpp-a-new-beginning.4273521/page-94?post_id=34310373#.W5fH55P-hm8
https://hotcopper.com.au/threads/gpp-a-new-beginning.4273521/page-119?post_id=34376235
https://hotcopper.com.au/threads/ri....4320936/page-8?post_id=34539836#.W5fIb5P-hm8
https://hotcopper.com.au/threads/gpp-a-new-beginning.4273521/page-87?post_id=34282920#.W5fIf5P-hm8
https://hotcopper.com.au/threads/gpp-a-new-beginning.4273521/page-63?post_id=34263348#.W5fIs5P-
https://hotcopper.com.au/threads/gpp-a-new-beginning.4273521/page-83?post_id=34282335#.W5fLRJP-hm8
2: The company, to save costs initiated the Small Holding Sale Facility, so why is it wasting more money?
The General Meeting is to be held on the 12th October to vote on these two resolutions but they will also have to have another meeting soon after re: Annual General Meeting for all the usual yearly agenda items ie: Acceptance of the renumeration report, plus the election of the 2 proposed new board members, so why don't they conduct one meeting? - just saying
3: The company is offering "a full report on ALL GPP's projects at the AGM - not the meeting they have just called why can't the due diligence reports be made available through an ASX released announcement so that shareholders can actually make an informed decision?
I know what box my "cross" will be marked in ........
