Glaston Corp.’s Extraordinary General Meeting was held this week, and during the meeting the company’s board of directors was authorized “to resolve on one or more issuance of shares.” According to an announcement from the company, the authorization contains the right to issue new shares or dispose of the shares in the company’s possession, up to 86 million shares.
The authorization, which is to be used for executing or financing of material arrangements from the company’s point of view, such as restructuring of the company’s financing structure or implementing business arrangements or investments, or for other such purposes determined by the board of directors, also entitles the board of directors to decide on a directed issue. The authorization is effective until June 30, but does not supersede the earlier authorization granted by the General Meeting on April 5, 2011.
The company had announced the upcoming meeting and possible issuance of shares last week.
