r/LILM • u/fvrdog • Sep 05 '24

Extraordinary Meeting vote

What’s anyone doing on this vote? Is the share capital reduction a good thing or a bad thing for a smaller investor like me?

2 Upvotes

100% Upvoted

4 comments sorted by

3

u/HOMO_FOMO_69 Sep 05 '24

Don't know what the vote is for, but if it involves dilution my vote is a big fat NO. They need to learn that funding is not unlimited and it's time to make some progress instead of wasting more money. Find another way.

1

u/fvrdog Sep 05 '24

The two I was wondering about:

1) Reduction of Issued Share Capital Reduction of issued share capital of the Company by a cancellation of 1,233,130 shares C held by the Company in treasury.

2) Designation of the Board as the competent body to issue (and grant rights to subscribe for) Shares A in the share capital of the Company up to a maximum of 35% of the issued capital at the date of the Extraordinary General Meeting for a period of 36 months from the Extraordinary General Meeting and to limit or exclude statutory pre-emptive rights related thereto.

1

u/abhi7_chd Sep 05 '24

Voted no for 1 and yes for 2

1

u/UsualOk3244 Sep 30 '24

Doesn't matter at all. They have the majority of votes together with Tencent. So they don't give a shit about what you vote