VIL 0.00% 1.6¢ verus investments limited

AllFrom notice of AGM report dated 23-10-09. Res 4"5. RESOLUTION...

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    From notice of AGM report dated 23-10-09. Res 4

    "5. RESOLUTION 4 – APPROVAL FOR THE ISSUE OF OPTIONS AS FEE FOR CORPORATE SERVICES
    The Directors have resolved to seek shareholder approval for the issue of up to 75 million options. The information required under ASX listing rule 7.3 is as follows:
    i.
    The maximum number of options that are proposed to be issued is 75,000,000. Each option entitles the holder to subscribe for and be allotted one ordinary share in the capital of the Company at a price of 10 cents per share on or before 5.00 pm Eastern Standard Time on 30 June 2010. The options are quoted on ASX as VILO. Full terms and conditions of the options are stated in Appendix A.
    ii.
    The securities referred to in (a) above will be issued no later than 3 months after the date of this General Meeting, and it is intended that the allotment will occur on the same day.
    iii.
    The options will be issued to Cicero Corporate Services Pty Ltd (Cicero) to assist with the conduct of Investor Relations promotional activity and to help raise the Company’s profile amongst investors. Cicero has established contacts throughout Australia and Europe.
    The issue of options is a fee for these services and assists in conserving cash assets, which would otherwise have to be used for payment. No funds will be raised from the issue of these options, except in the event that some or all of them are exercised in the future.
    The granting of approval for this proposed issue of options by shareholders excludes the issue of options from the calculation of the 15% limit on the further issue of securities by the Company for the next 12 months."

    -Assuming this passes at todays meeting-
    Seems to me that as Cicero, given their corporate strength, are willing to accept opts (which expire as soon as 30 June 2010 at an exercise price of .10 cents) rather than cash means they must expect success for VIL into the NEAR future and beyond.

    This alone could be regarded as a buy/hold signal.

    Also research GGP

    Good luck to all but DYOR


 
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Currently unlisted public company.

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