4 questions lodged at 2025 Dotz Nano virtual EGM

Q1. What percentage of the company will Mercer own once they're fully invested and assuming all convertible notes are converted at the new cheaper prices proposed at this EGM. Also, this is the 3rd EGM we've had in less than 10 months, in addition to last year's AGM which was held on May 31, the last possible day under ASX rules for December 31 balance date companies. Can you name another ASX-listed company which has done so many EGMs in quick succession, will you hold an earlier AGM this year to avoid the last day rush and when did shareholders give you the authority to hold virtual AGMs and EGMs as it is better for shareholders to both be able to meet the directors in person and ask live online questions.

Answer: The chair Bernie Brookes gave a good answer and promised to get back later on the Mercer shareholding and any other company that had held 3 EGMs in 10 months. Watch video of opening exchange via Twitter.

Q2. According to The Intelligent Investor website, we raised $139.7m at $2.15 a share in an IPO that closed shortly before the GFC struck in December 2007. 17 years later and the shares are today trading at 9c giving us a market capitalisation of $51.2 million but the latest accounts only show $50 million of accumulated losses and net assets of just $1.54m. This doesn't add up. Could chair Bernie Brookes please summarise the overall shareholder experience since the company floated and also whether the board has ever offered the 800 retail shareholders a chance to participate in a share purchase plans because based on the last year, there are regular selective share placements to various directors, executives and third party big end of town investors, but we rarely do a standard pro-rata capital raisings or let retail shareholders into the game via an SPP. Why is this?

Answer: The chair Bernie Brookes said the history was bad but he was only recently involved. He gave a good summary of the chopping and changing business strategies from oil track and trace, to COVID test kits and now carbon capture and storage. Watch video of exchange via Twitter, plus these additional comments on the sorbent track and trace play involving Melbourne uni and carbon capture and storage applications. He also committed to look into a potential SPP for the 800 retail shareholders after a flood of non pro-rata placement proposals in recent times.

Q3. After cutting the original deal with Mercer last year, why are we sweetening the terms instead of sticking to our guns? Who made the original introduction to Mercer and has consideration been given about granting them board representation if these resolutions are approved?

Answer: The chair Bernie Brookes said Mercer had them over a barrel and there were few other options to stave off running out of money. The original Mercer introduction came via US broker to the CEO 18 months earlier. Watch video of exchange via Twitter.

Q4. Will a copy of the webcast of today's EGM be made available on your website for the benefit of any of our 800 shareholders who weren't able to dial in live? Ideally, a full transcript would be lodged with the ASX, along with a webcast archive placed on our website. Is today's EGM even being recorded as this sometimes doesn't happen with Zoom meetings?

Answer: The chair Bernie Brookes agreed to all of these requests and provided an assurance that the meeting was recorded. Let's see if a transcript gets lodged with the ASX, which is a very rare practice. Watch video of exchange via Twitter.

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