AGM/EGMJun 2, 2026, 04:07 PM
Gelteq Ltd Calls Special Shareholder Meeting for Convertible Note Conversion Approval
AI Summary
Gelteq Ltd has announced a Special Meeting of Shareholders to be held on June 19, 2026. The primary agenda item is Resolution 1, seeking shareholder approval for the issuance of shares upon the conversion of convertible notes. This issuance may exceed the 19.99% limit stipulated by Nasdaq Listing Rule 5635(d). The company intends to use the financing proceeds to fund strategic initiatives including commercialization, clinical trials, and operational scaling. The meeting will be conducted both in-person and virtually.
Key Highlights
- Gelteq Ltd will hold a Special Meeting of Shareholders on June 19, 2026, at 2:30 PM AEST.
- The meeting will be held in person at G.60, 22 Alliance Lane, Clayton, Victoria, 3800, and online via an electronic platform.
- Shareholders will vote on Resolution 1: Approval of Issue of Shares on Conversion of Convertible Notes for Nasdaq Listing Rule 5635(d).
- The company is seeking approval to issue shares upon conversion of convertible notes, potentially exceeding the 19.99% limit under Nasdaq Listing Rule 5635(d).
- Proceeds from the financing are intended to accelerate commercialization, support clinical trials, scale operations, and strengthen working capital.
- The maximum theoretical number of shares issuable under the notes is approximately 8,908,548, subject to various conversion terms.
- A contractual beneficial ownership limitation restricts the Noteholder to owning no more than 9.99% of the Company's issued and outstanding Shares at any given time.
- The Board unanimously recommends shareholders vote in favor of Resolution 1.
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