ULTRASIS - ONWARDS AND UPWARDS

Quick glance at the issue of equity part of the resolutions:

Item 4:

That the authorised share capital of the company be increased from £1,600,000 to £2,000,000 by the creation of 400,000,000 ordinary shares of 0.1pence each ranking pari pasu in all respects with existing shares of 0.1pence each in the capital of the company.



makes no mention of 1.09p as Masterblaster said. (apologies if misread his post)

Essentially, this is not overly unusual. They will probably issue these if and when required to fund whatever. No strike price given either.

But sure, a permission to raise finance and consequent dilution, is being sought.


Personally, I'd be a lot happier if, as when when fund raising is necessary, they give the shareholders the opp to subscribe say, in a 1 for 4 rights issue. But if these are to be used for providing cheap options to the management and employees, then......hmmm !

Resoltion 5:

To authorise the directors to allot equity securities.



Better listen hard for the reasons at the AGM.