Last checked at 19 Apr 2018 16:08
Stratex International Plc
('Stratex' or 'the Company')
Results of Annual General Meeting andCapital Re-organisation
Stratex, the AIM-quoted gold exploration and development company focused on Turkey and Africa, held its AGM at 3 pm today and all resolutions were duly passed, including the Capital Re-organisation Resolutions (as defined in the announcement on 16 March 2018).
A copy of the presentation delivered to shareholders following the formal business of the AGM is now available on the Company's website https://www.stratexinternational.com/investors/reports-presentations/.
As a result of the Capital Re-organisation Resolutions, each of the Company's 467,311,276 Existing Ordinary Share of 1p each have been converted into one New Ordinary Share of 0.1p each and one Deferred Share of 0.9p each.
All Shareholders on the register as at 6.00 p.m. on 18 April 2018 (the "Record Date") will receive one New Ordinary Share and one Deferred Share for every one Existing Ordinary Share.
An application has been made for the 467,311,276 New Ordinary Shares to be admitted to trading on AIM and this is expected to commence at 8:00 a.m. on 20 April 2018 ("Admission").
Following Admission, the Company will have 467,311,276 New Ordinary Shares in issue, all with voting rights. The Company holds no New Ordinary Shares in treasury. The figure of 467,311,276 New Ordinary Shares may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the FCA's Disclosure and Transparency Rules.
The ISIN and SEDOL number of the New Ordinary Shares will be the same as the Existing Ordinary Shares and any share certificates for the Existing Ordinary Shares will remain valid for the New Ordinary Shares.
** ENDS **
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Following the publication of this announcement, this inside information is now considered to be in the public domain.
For further information please visit www.stratexinternational.com, @StratexPLC on Twitter,
or contact:
Stratex International Plc | Tel: +44 (0)20 830 9650 |
Tim Livesey / Claire Bay |
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Camarco (IR/PR Contact) | Tel: +44 (0)20 3757 4980 |
Gordon Poole / Nick Hennis / Monique Perks |
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Grant Thornton UK LLP | Tel: +44 (0)20 7383 5100 |
Samantha Harrison | |
Hannam & Partners | Tel: +44 (0)20 7907 8500 |
Neil Passmore / Andrew Chubb |
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Notes to Editors:
Since listing in 2006, Stratex has discovered more than 2.2 million ounces of gold and 7.09 million ounces of silver, as well as 186,000 tonnes of copper. The Company owns an exciting exploration project in Senegal on which it has signed an option earn-in agreement with IAMGOLD and 14.87% of a copper-gold project at feasibility stage in Turkey, which will likely default to a 1.2% (post-Turkish tax) royalty position during H1-2018. The Company also has significant interests in Thani Stratex Resources Ltd, Tembo Gold Corp. and Aforo Resources Limited for their exploration projects in Djibouti and Egypt, Tanzania and Burkina Faso, respectively. The Company is currently pursuing value-accretive opportunities within its existing portfolio as well as identifying new value-appropriate projects in Africa and Europe.