Business
NOTICE OF GENERAL MEETING
NOTICE OF GENERAL MEETING.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n NOTICE OF GENERAL MEETING\n \n \n\n \n Mercator Gold Plc\n \n \n\n \n \n \n MERCATOR GOLD PLC(“Mercator Gold” or the “Company”)\n \n \n Mercator Gold PLC (AIM:MCR)\n \n \n NOTICE OF GENERAL MEETING\n \n \n The Board of Mercator announces that a circular and notice of General \n Meeting (“GM”) has been dispatched to shareholders.\n \n \n The circular contains Board approved proposals, for which shareholder \n approval is required, for the sub-division and re-designation of the \n issued and unissued ordinary share capital of the Company through the \n conversion of each Ordinary Share into one New Ordinary Share and one \n Deferred Share. The circular also contains further proposals, subject to \n the passing of Resolutions at the GM, for the making of the offer of \n bonus Warrants to Shareholders on a 1 for 7 basis. These warrants being \n issued free of cost to shareholders do not have any liability nor do \n they have any immediate value. They are being offered in recognition of \n the loyalty of Existing Shareholders and to give Existing Shareholders \n the benefit of any upside potential of improved markets in the future, \n as well as to allow the small shareholders to maintain their equity \n position the Company. The Warrants will be exercisable at 5p within a \n period of 12 months from the date of grant for each seven Existing \n Ordinary Shares held on the Record Date.\n \n \n Mercator has acquired a cash generative asset in the form of ACS Asia \n (1996) Company Limited (“ACS Asia”). Efforts to refinance Mercator’s \n Australian subsidiary, Mercator Gold Australia Pty Ltd (MGA), are \n continuing and the Directors are in a position to examine ways in which \n to best create value for the shareholders. The Directors are aware of a \n number of promising new opportunities in the mineral sector, and are \n carrying on discussions regarding potential acquisitions and investments.\n \n \n In his letter to Shareholders, Chairman Michael Silver states:\n \n \n “Mercator, in common with a multitude of other companies, was seriously \n affected by the acutely challenging economic conditions encountered by \n the gold mining industry in Australia last year. A surging Australian \n currency combined with unprecedented fuel prices and operation \n difficulties at the Company’s Meekatharra gold project led Mercator ...