Business
Historic Distributions and Publication of Circular
Anglo Asian Mining PLC announced an update regarding administrative non-compliance issues related to historical dividends and share buy-backs between 2018 and 2022, totaling US$46,716,666.44. While the group had adequate reserves in subsidiaries, these funds were not distributed to the parent company before the distributions. A general meeting is scheduled for October 22, 2025, to propose a resolution addressing the issue. The company will enter into deeds of release for directors and shareholders, preventing future claims against them. Additionally, a buy-back deed with SP Angel Corporate Finance LLP will facilitate the lawful transfer of ordinary shares. The company produced 16,760 gold equivalent ounces for the year ended December 31, 2024, and 16,378 GEOs in the first six months of 2025. Disclaimer*
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n\n \n29 September 2025\nAnglo Asian Mining plc\nHistoric Distributions to Shareholders, Publication of Circular and Notice of General Meeting\n \nAnglo Asian Mining plc (\"Anglo Asian\" or the \"Company\"), the AIM listed gold, copper and silver producer focused in Azerbaijan announces, further to the announcement of 26 November 2024, an update on its administrative non-compliance issues with respect to distributable reserves, the payment of certain historical dividends between 2018 and 2022, and share buy-backs executed by the Company in 2022 (the \"Relevant Distributions\").\n \nAt all relevant times the Anglo Asian group had adequate reserves in subsidiary companies to allow the payment of the Relevant Distributions, however these amounts were not distributed up to Anglo Asian Mining plc, the parent company of the group, in advance of the declaration and payment of the Relevant Distributions. Unfortunately, this administrative oversight resulted in the Relevant Distributions being paid otherwise than in accordance with the Companies Act. These issues only affected the Relevant Distributions and did not affect any other dividends declared and paid by the Company. The total aggregate amount of the Relevant Distributions was US$46,716,666.44.\n \nThe issue is of a historical nature and there is no change to the financial outlook of the Company as a result of this technical matter. It also has no impact on the Company's dividend policy going forward. No fines or other penalties have been incurred by the Company.\n \nThe Company has today published and will post to shareholders an explanatory circular (the \"Circular\") convening a general meeting for 2:30pm, 22 October 2025 (the \"General Meeting\"), at which a special resolution (\"Resolution\") will be proposed which will, if passed, put all potentially affected parties in the position which they were intended to be in had the Relevant Distributions been declared and paid in accordance with the full requirements of the Companies Act. Further details of the Relevant Distributions are contained in the Circular.\n \nThe steps being proposed will involve the Company entering into deed of release in respect of the Directors of the Company at the time the Relevant Distributions were declared and paid (the \"Directors' Deed of Release\") and in respect ...