A placing is a method of issuing new shares to specific investors rather than offering them to existing shareholders. For a placing to proceed, existing shareholders' pre-emption rights (the right to buy new shares before others) must be waived, which requires a resolution to be passed.
[Reference:, ICWIM, Topic: Corporate Actions and Share Issuance., Companies Act 2006 (UK), Sections 561-577 regarding pre-emption rights., , , ]
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