The just passed Resolutions just added 150m more shares to the...

The just passed Resolutions just added 150m more shares to the issued.

As of this issue. VMR now hold 25% of this company with the above dilution.


CORPORATIONS ACT 2001 - SECT 606

Prohibition on certain acquisitions of relevant interests in voting shares

1) A person must not acquire a relevant interest in issued voting shares in a company if:

(a) the company is:

(i) a listed company; or

(ii) an unlisted company with more than 50 members; and

(b) the person acquiring the interest does so through a transaction in relation to securities entered into by or on behalf of the person; and

(c) because of the transaction, that person's or someone else's voting power in the company increases:

(i) from 20% or below to more than 20%; or

(ii) from a starting point that is above 20% and below 90%.


http://www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s606.html


Which means before VMR take these share in the next 3 months.
CCC total issued need to be 1b shares (including VMR) to keep them under 20%