Voting against resolution 8 would stop the board being able to convert loans to equity and issue shares to individuals.
As Special Business
SPECIAL RESOLUTIONS
8. “THAT the Directors be and they are empowered pursuant to Section 570(1) of the Act to allot equity securities (as defined in Section 560(1) of the Act) of the Company wholly for cash pursuant to the authority of the Directors under Section 551 of the Act conferred by Resolution 7 above, as if Section 561(1) of the Act did not apply to such allotment provided that unless previously revoked, varied or extended, this power shall expire on 5 December 2027”.
For context - here is Resolution 7
7. “THAT the Directors be and are hereby generally and unconditionally authorised in accordance with section 551 of theCompanies Act 2006 (the “Act”) to allot equity securities (as defined in section 560(1) of the Act):
(a) up to an aggregate nominal amount of £216,164 and such authority shall expire at the conclusion of the Company’s next Annual General Meeting in 2023, but so that the Company may, in each case, before such expiry make an offer or agreement which would or might require equity securities to be allotted after such expiry and the Directors may allot equity securities in pursuance of any such offer or agreement as if the power conferred hereby had not expired. This authority shall be in substitution for any previous authorities granted in this regard by the Company,
but without prejudice to any allotment of equity securities or grant of rights already made, offered or agreed tobe made pursuant to such authorities; and
(b) in addition to and without prejudice to the authorisation provided at sub-paragraph (a) above, an aggregate nominal amount of £432,328 per annum in the year following this Annual General Meeting and for each of the following four years and such authority shall expire on 5 December 2027 or on the date of the Company’s Annual General Meeting in 2027 if earlier, but so that the Company may (other than with regard to any transaction that would complete after 5 December 2027), in each case before such expiry make an offer or agreement
which would or might require equity securities to be allotted after such expiry and the Directors may allot equity securities in pursuance of any such offer or agreement as if the power conferred hereby had not expired. This authority shall be in substitution for any previous authorities granted in this regard by the Company, but without prejudice to any allotment of equity securities or grant of rights already made, offered or agreed to be made pursuant to such authorities;”