6 questions lodged at 2026 Enlitic (ENL) virtual EGM
February 4, 2026
Below is the text of the 6 written questions submitted at the 15 minute Enlitic (ENL) virtual EGM held at 10am on February 4 2026 via the Link platform to approve an $8m convertible note issue and some director participation. See notice of meeting. Record date was earlier than usual at 7pm January 23, 2026, for the Colorado-based company which sold CDIs via the ASX. Market cap $8.3m on EGM day. No formal address was lodged with the ASX before the meeting and there were no protest votes. Very disappointing that the 3 general questions weren't asked as was the only shareholder asking questions.
Q1. How many different "sophisticated investors" participated in this convertible note offer being approved today and did we consider a structure which would have allowed ordinary unsophisticated retail investors to participate? What is our history of allowing retail investors to participate in capital raisings and will we look at doing a make good offer to retail investors before the next AGM?
Answer: The chair Lawrence Gozlan would only say there was one large sophisticated investor which led the raise. No history was provided of retail shareholder participation. Watch video of exchange via Twitter.
Q2. The $330,000 fee paid to Taylor Collinson for selling both tranches of this convertible note issue seems excessive. Did we run a proper tender before agreeing to this expense and what is our history with Taylor Collinson? Have we ever paid them partially with equity in the past and did we consider doing that this time? Also, who is the main person we are dealing with at Taylor Collinson and do they personally own any of our securities in order to be aligned?
Answer: The chair Lawrence Gozlan claimed they did run a tender and that the Taylor Collinson fee was a standard market rate for an emerging small cap company trying to battle through to break even. Watch video of exchange via Twitter.
Q3. Which of the big names currently on our share register showed faith and participated in this latest $8m capital raising? Did Marubeni go again? What about the Stul and Liberman families? Has Pengana continued to support us? What if anything can you tell us about the identity of the investors rounded up by Taylor Collinson and participating in this raise which will be fully approved if this resolution passes? Also, how rigorous has the exclusions process been when it comes to voting on this item?
Answer: The question wrangler did a reasonable job on the 3 questions that were allowed on the first two resolutions but censored the italicised component naming some of the current shareholders appearing in the top 20. The chair Lawrence Gozlan once again gave nothing and ran the privacy line. Watch video of exchange via Twitter.
Q4. Thank you for offering online access to this meeting through the excellent online meeting platform run by our share registry provider MUFG. Could you please ensure a copy of the webcast of this meeting is made available on your website so that the 95%+ of our circa 550 CDI holders who are not currently attending are able to find out later what was said at the meeting as the company engaged with its retail shareholders?
Answer: They never got to general questions like this despite offering general questions in the drop down box and being asked to again as they ran the 5 minute voting period at the end of the 15 minute discussion. Poor form.
Q5. When disclosing the outcome of the poll to the ASX, could you please ask MUFG to also include the headcount data, like with a scheme of arrangement, so that we can get a sense of retail shareholder voting turnout and sentiment. Many other companies are now voluntarily doing this, including the world's biggest share registry provider Computershare at its own AGM.
Answer: They never got to general questions like this despite offering general questions in the drop down box and being asked to again as they ran the 5 minute voting period at the end of the 15 minute discussion. Poor form.
Q6. As a CDI holder, why am I not allowed to vote live today at this online AGM. What sort of virtual meeting bans voting? If holders of common stock can vote today, why are are CDI holders being treated as second class citizens with no voting rights? Is this a legal requirement in Australia imposed by the ASX or a choice that we have made on legal advice?
Answer: They never got to general questions like this despite offering general questions in the drop down box and being asked to again as they ran the 5 minute voting period at the end of the 15 minute discussion. Poor form.
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