Shareholders have given the nod to three special resolutions aimed at shoring up the RJRGLEANER Group’s future prospects, according to CEO Gary Allen.
“We know that it may be a challenging environment, but we are digitally driven. We’re going to have credible content that we will continue to produce and make that available on multiple platforms everywhere … . That’s the future that we have for what it is that we are doing with the business,” Allen told shareholders as he made the case for the adoption of the special resolutions yesterday.
Shareholders were asked to agree to an increase in the authorised shares.
Allen said that having extra capital during tough times is important to help to manage the business in responding to or anticipating opportunities in the environment.
“You want to have the most agility. You want to have the greatest level of freedom to take advantage of the opportunities as they arise,” Allen argued, noting that the company has no unissued float of shares nor can it issue bonus shares or use other means to make strategic moves.