Ann: Voluntary Suspension, page-223

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09/02/19

08:16

Post #: 37383644
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Originally posted by rastes: ↑

Unfortunately your Not totally correct..
Fwiw imo!
Both batches have everything to do with GM .
Hence no Soph shares CR will or can be issued until after GM. Why ?
Because share capacity in 7.1 is empty, there is only 407,973 available until GM in resolution 1 to ratify is voted yes then 7.1 capacity can be topped up to issue more shares and then 'without the need for share holder approval for future share issues from 7.1 , clearly you do not understand there is a big difference between rule 7.1 and rule 7.1a what is allowed and what is not.
Shares currently available in 7.1a are 146,938,649 and to issue any from that batch now first require share holder approval. Ie:
Like most of the shares in 7.1a left have been allocated to the Vendor 105,656,566 and have to be voted on at the GM to be issued. yes? Like otherwise why not issue it to them already .. see resolution 2 in the GM agenda.
That initial 210,000.000 mil shares issued to Vendor were from via rule 7.1 capacity hence No shareholder approval was required for that batch as states in the last 3b. See to confirm, apendix 3b - 6c.
Could there be an amendment notice announced before GM regarding resolutions in the current agenda you think.
The next, uno those very usefull tools/tricky Cleansing 'Prospectus' will read nice and muddy, they deflect/confuse many folks methink.

Expand

OFFER TYPE: Placement of shares to investors exempt from disclosure under s.708 of the corporations act(Cth) 2001 using the company's existing L.R 7.1A (10%) placement capacity,

PLACEMENT SIZE: Amount --$2.6 million
Size-------146.9 million shares
I guess this spells it out better

VEC Price at posting: 2.0¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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Ann: Voluntary Suspension, page-223

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