9 May 2018 14:21
9 May 2018
Patagonia Gold Plc
Result of Annual General Meeting ("AGM")
Patagonia Gold Plc (AIM:PGD), the mining and development company with gold and silver projects in Argentina, Chile and Uruguay, is pleased to announce that at the AGM of the Company held this morning, all of the resolutions proposed in the notice of meeting that was set out in a circular to shareholders dated 12 April 2018 ("Circular"), were duly passed.
In addition to the usual business dealt with at the AGM, the Company also sought Shareholder approval for a sub-division and consolidation of the Company's share capital (the "Capital Reorganisation"), details of which were included in the Circular.
Following the passing of the resolutions at the AGM today, every existing ordinary share of 1 pence will be sub-divided into one interim ordinary share of 0.01 pence ("Interim Share") and one deferred share of 0.99 pence, and then immediately consolidated on the basis of 1 new ordinary share of 1 pence each ("New Ordinary Shares") for every 100 Interim Shares.
Application has been made to the London Stock Exchange for the 23,634,749 New Ordinary Shares created pursuant to the Capital Reorganisation to be admitted to trading on AIM ("Admission").
It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8.00 a.m. on 10 May 2018.
Following Admission, the Company's issued ordinary share capital will consist of 23,634,749 ordinary shares of 1 pence each with voting rights. PGD does not hold any Ordinary Shares in treasury. The ISIN of the New Ordinary Shares is GB00BF5B8R55.
For more information, please contact:
Christopher van Tienhoven, Chief Executive Officer
Patagonia Gold Plc
Tel: +54 11 5278 6950
Angela Hallett
Strand Hanson Limited (Nominated Adviser and Broker)
Tel: +44 (0)20 7409 3494