That's interesting

Re unissued shares, directors can only allot unissued shares if they have the authority of the shareholders to do sso. BUT - usually the articles of association confer such a power on the directors, subject to periodic renewal (can be annual, or every two or three years). So the current board probably DOES have authority to allot the unissued shares as it sees fit.

Posted By: Old Git, Jul 2, 13:28:28