Althea Group Holdings (ASX:AGH) intends to seek shareholder approval at the company's upcoming annual general meeting on Jan. 31 for the ratification of the shares issued within the limits of its placement capacity, according to a Friday filing with the Australian bourse.
The company will seek shareholder approval after disclosing that 31.2 million shares of the 101.3 million shares issued on July 22, 2024, exceeded its available 15% annual placement capacity under Australian Securities Exchange Listing Rules 7.1 and 7.1A due to a miscalculation, the filing said.
Althea also acknowledged a failure to lodge Appendix 2A for the issuance of the 101.3 million shares in July, as well as a previous issuance of 1.2 million shares on May 28, 2024.
The company plans to lodge the required documents following the outcome of a federal court hearing in early January.
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