The release is exactly as i expected.
1.We know they may need the RS option (key word: option) to hit the NASDAQ. Seeing the AGM is pushed forward, they need to extend the option for a year on the ballot. Nice to see a cap at 3:1.
2. Anyone who watched the CIC video is not surprised by the PP. The company would only do this to maximize the eventual impact on the stock. Ie. keep the bankers happy, and to ensure POET gets strong promotion. A calculated decision that mgmt obviously deems to be worth it.
3. There are various options to to the timing of both 1 and 2. And it is possible they may not need number 1 at all. The company has flexibility.
....no big deal.
My take:
They are obviously clearing the air of the housekeeping, getting the necessary things out for the AGM. Let the market react as it wishes in the next day or so, but frankly the runway is cleared for some nice NR's for NASDAQ run when the time is right. (Could be anytime now).
Personally, I am looking forward to a new CEO. Peter has done well to get POET to this pointt - and no doubt he'll land this on the NASDAQ in the best way he can (living up to "the capital markets guy" I surely hope)....... it is time to take this to the next level. An 'in industry' tech visionary who is paid to spend 24x7 cutting deals, and building roadmaps with big boys -this is what we need.
Have a sniff of scotch and relax all....all appears to be lining up as planned.