3DM Worldwide - Superstock??

jonwig - there may well be 133,3m shares left to issue, but they can't necessarily issue them all without shareholders approval. These were the last terms approved.

"Resolution 8 – Disapplication of pre-emption rights
Resolution 8 empowers the Directors to allot equity shares for cash, without first offering them to existing shareholders in proportion to their holdings, in connection with a rights issue or open offer. This power to issue of shares is required in connection with the three year standby facility agreement made with Cornell Capital Partners Offshore LP in 2003; the allotment of shares in connection with the Deed of Warrant Grants already in place; share options granted and to be granted to the Directors and employees of the Group; and finally to a further 13,319,764 Ordinary Shares representing 10% of the current unissued share capital. This authority will expire at the conclusion of next year’s Annual General Meeting or 15 months after the passing of the resolution,
whichever is the earlier."



Specific to Cornell was the previous years resolutions:

"(ii) the allotment and issue of shares up to 6,666,667 Ordinary Shares pursuant to the agreement with Cornell Capital Partners Offshore LP;"



Regards

Adie2001


p.s. Madasafish - please note that my originally calculated quoted 75p valuation for a share was correct (£5m / 6,666,667), and that I confused the 75 into cents somewhere during the day. That hangover is finally kicking in!!!!