Corporate bookmaker PointsBet (ASX:PBH) decided to withdraw resolution five from the agenda of its annual general meeting (AGM) on Tuesday, according to a same-day filing with the Australian bourse.
The resolution relates to the approval to issue an additional 10% of issued capital over a 12-month period, the filing said.
The company had a market capitalization exceeding AU$300 million at market close on Monday, making it ineligible to seek approval under ASX Listing Rule 7.1A.
The withdrawal of this resolution will not affect the validity of the proxy form attached to the notice of AGM or any proxy votes submitted, according to the filing.
PointsBet shares fell 8% in midday trade.
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