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Pin to quick picksPathfinder Minerals Share News (PFP)

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Pathfinder Minerals Issues New Shares After Capital Reorganisation (ALLISS)

Mon, 07th Sep 2015 11:12

LONDON (Alliance News) - Pathfinder Minerals PLC on Monday said that it has issued new shares after its proposed capital reorganisation was approved by shareholders at its AGM.

The company proposed a capital reorganisation back in June to allow it to access equity financing in the future and as it battles to regain control of its assets in Mozambique. It will be effected from Tuesday, Pathfinder said.

Following the capital reorganisation, there will be 103.7 million shares of 0.1 pence par value in issue, it said.

Shares in Pathfinder were trading down 3.6% at 0.241 pence Monday morning.

By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews

Copyright 2015 Alliance News Limited. All Rights Reserved.

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2 Feb 2024 14:58

IN BRIEF: Pathfinder Minerals waives minimum deferred payment for IMM

Pathfinder Minerals PLC - AIM-listed cash shell seeking reverse takeover - Agrees to new deferred consideration payment terms for the sale of IM Minerals Ltd. The sale of IM Minerals to Acumen Advisory Group LLC back in July included the right to bring a claim against the Mozambique government for the expropriation of a Pathfinder mining concession. As a contingent payment, AAG was to pay Pathfinder the greater of USD30 million or 25% of the amount received for the claim. However, AAG informed Pathfinder it "contemplated not complying" with the terms. To avoid possible default, Pathfinder agrees that the payment will be based solely on a sliding scale of 22.5% to 40% of the amount received from the claim. It notes the new agreement gives AAG more incentive to pursue the claim.

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22 Dec 2023 19:11

IN BRIEF: Pathfinder Minerals raises GBP1.3 million via subscription

Pathfinder Minerals PLC - AIM cash shell seeking reverse takeover - Raises GBP1.3 million by way of a subscription through the issue of 425.0 million new ordinary shares at 0.30 pence per share. Says it has made an application for the shares to be admitted to trading on AIM, and admission is expected to occur on or around December 27.

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14 Dec 2023 15:46

UK shareholder meetings calendar - next 7 days

Friday 15 December 
Abingdon Health PLCAGM
Aptamer Group PLCAGM
Bellway PLCAGM
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DCI Advisors LtdAGM
Ethernity Networks LtdGM re subscription agreement
Frontier IP Group PLCAGM
Holders Technology PLCGM re AIM delisting and tender offer
Renalytix PLCAGM
Schroder Real Estate Investment Trust LtdEGM re proposed amendments to the investment policy
Tristel PLCAGM
Ultimate Products PLCAGM
Wentworth Resources PLCAGM
Monday 18 December 
Ascential PLCGM re proposed sale of digital commerce business
Braemar PLCAGM
Eqtec PLCEGM re capital reorganisation
Fandango HoldingsAGM
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LondonMetric Property PLCGM re revised directors' remuneration policy
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Tuesday 19 December 
dotdigital Group PLCAGM
easyJet PLCGM re buy of 157 A320neo family aircraft
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Netcall PLCAGM
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Technology Minerals PLCAGM
Zanaga Iron Ore Co LtdAGM
Wednesday 20 December 
AVI Global Trust PLCAGM
Lift Global Ventures PLCAGM
Northamber PLCAGM
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SolGold PLCAGM
Thursday 21 December 
Beacon Energy PLCAGM
Beeks Financial Cloud Group PLCAGM
Coinsilium Group LtdAGM
Conroy Gold & Natural Resources PLCAGM
Gfinity PLCAGM
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Copyright 2023 Alliance News Ltd. All Rights Reserved. 

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30 Nov 2023 14:24

IN BRIEF: Pathfinder Minerals sets reverse takeover of DR Congo miner

Pathfinder Minerals PLC - AIM cash shell seeking reverse takeover - Agrees to buy Rome Resources Ltd in a reverse takeover that involves an equity raise and relisting on AIM in London. Pathfinder raises GBP1.3 million from a subscription to 425.0 million new shares at 0.30 pence per share. Each two new shares come with a warrant that can be used to buy another new share at 0.45p within the next two years. Its shares are suspended from trading on AIM on Wednesday due to the reverse takeover. They last traded at 0.28p on Tuesday. Pathfinder will use the funds raised to give Rome Resources an unsecured loan of CAD2.5 million, about GBP1.5 million. Rome Resources is listed on the TSX Venture Exchange in Toronto, where it has a market capitalisation of CAD20.8 million, about GBP12.1 million.

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Pathfinder hires executive director as non-executive chair departs

(Alliance News) - Pathfinder Minerals PLC on Wednesday said Non-Executive Chair Dennis Edmonds has left the board immediately, replaced by a new executive director.

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11 Aug 2023 15:44

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Monday 14 August 
Ethernity Networks LtdAGM
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Tuesday 15 August 
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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28 Jul 2023 17:02

Pathfinder agrees IM Minerals disposal with Mozambique legal claim

(Alliance News) - Pathfinder Minerals PLC on Friday said it agreed to sell IM Minerals Ltd to Acumen Advisory Group LLC, which includes the right to bring a claim against the Mozambique government for the expropriation of mining concession 4623C.

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14 Jun 2023 18:35

IN BRIEF: Pathfinder Minerals disposal edges closer to completion

Pathfinder Minerals PLC - natural resources company with licences to mine heavy minerals sands in Mozambique - Updates regarding the sale of IM Minerals Ltd, a wholly owned subsidiary, to Acumen Advisory Group LLC. Says AAG has been advised by its UK legal counsel that it has received around GBP1.1 million into its client account. These funds, plus additional expected funds, will be used to pay Pathfinder and enable the sale to complete.

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25 May 2023 18:02

IN BRIEF: Pathfinder Minerals annual loss widens slightly

Pathfinder Minerals PLC - natural resources company with licences to mine heavy minerals sands in Mozambique - Reports results for 2022. Says pretax loss totalled GBP376,000, widened from GBP367,000 the year prior on zero revenue which was unchanged. Loss per share was unchanged at 7 pence. Chair Dennis Edmonds says: "Following the completion of the disposal of IM Minerals Ltd, which the company expects imminently, Acumen Advisory Group LLC will have a binding agreement with the company to progress the claim against the Government of Mozambique. If the claim is successful, Pathfinder stands to receive a substantial contingent payment." Further, continues to evaluate opportunities to find a suitable acquisition.

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IN BRIEF: Pathfinder Minerals targets acquisition after sealing sale

Pathfinder Minerals PLC - natural resources company with licences to mine heavy minerals sands in Mozambique - Confirms disposal of IM Minerals Ltd, a wholly owned subsidiary of Pathfinder, to Acumen Advisory Group was approved by shareholders at its general meeting held on Thursday. Adds on completion of the disposal, the company will cease to own substantially all of its existing business activities or assets and will be classified as an AIM Rule 15 cash shell. As such, company will be required to make an acquisition or acquisitions which constitute a reverse takeover within six months to avoid shares being suspended. States board is evaluating opportunities in the sectors it considers appropriate, seeking to identify one or more projects or assets which the company can acquire.

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Pathfinder revises deal to offload IM Minerals

(Sharecast News) - Minerals explorer Pathfinder has signed a revised sale and purchase agreement for the disposal of IM Minerals (IMM), it announced on Friday.

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