Business
Notice of AGM & Capital Reorganisation
Notice of AGM & Capital Reorganisation.
About this update from Metals One Plc
[{"type":"text","content":"\n\n\n \n1 July 2024\n \nMetals One Plc\n(\"Metals One\" or the \"Company\")\n \nNotice of Annual General Meeting\n&\nNotification of Capital Reorganisation\n \nMetals One (AIM: MET1), which is advancing strategic metals projects in Finland and Norway, has posted a notice of Annual General Meeting (\"AGM\") to be convened on 22 July 2024 at 11.00 a.m. (the \"Notice\"). The Notice is available to view on the Company's website at www.metals-one.com.\n \nIn addition to the customary resolutions to be proposed at the AGM, the Notice includes a resolution for a Capital Reorganisation. The purpose of the Capital Reorganisation is to reduce the nominal value of the Company's existing Ordinary Shares.\n \nCapital Reorganisation\n \nThe Company currently has 330,217,500 Ordinary Shares of £0.01 each in issue (\"Existing Ordinary Shares\"). The proposal is that each Existing Ordinary Share is to be subdivided into 1 New Ordinary Share of £0.001 and 1 Deferred Share of £0.009. The Deferred Shares will have no right to vote or participate in the capital of the Company and the Company will not issue any certificates or credit CREST accounts in respect of them. The Deferred Shares will not be admitted to trading on any exchange. The rights of the New Ordinary Shares and the Deferred Shares will be set out in the new articles of association proposed to be adopted by the Company. Existing share certificates will remain valid instruments of title - no replacement share certificates will be issued following the Capital Reorganisation. This Capital Reorganisation will not affect the trading price of the Company's Ordinary Shares nor the number of Ordinary Shares in issue.\n \nBackground to the Capital Reorganisation\n \nThe current nominal value of the Company's Existing Ordinary Shares is £0.01. In order to give the Company greater flexibility, as shares cannot be issued at a price which is lower than their nominal value, the Board proposes to carry out a subdivision and reclassification of the existing Ordinary Shares.\n \nExpected timetable of events\n \n\n\n\n\nEvent\n\n\nExpected time and date\n\n\n\n\nTime and Date of Annual General Meeting\n\n\n11.00 a.m. on 22 July 2024\n\n\n\n\nRecord date for Capital Reorganisation\n\n\n6.00 p.m. on 22 July 2024\n\n\n\n\nLatest time and...