As a poster here previously indicated, the meeting is to give EFR the ability to RS up to a 50to1 ratio up from 20to1. One reason cited for the higher ratio is to get the share price above $5.00 to enable institutional investment. Weak argument IMO what's the big rush to list? Why not wait until U prices and the SP moves up then do the RS at a lower ratio? I voted against the resolution.
Here's the thing, they didn't expect this to happen. They thought they could ride the Strathmore deal and excitement through the R/S and come out not too damaged. They were wrong, and now we are all paying the price. They were also warned that this exact result would take place. It's not too late for them to stop this nonsense or hopefully by some miracle it will be voted down.