Business
Notice of GM, Capital Reorg. & Consolidation
Notice of GM, Capital Reorg. & Consolidation.
About this update from Metals One Plc
[{"type":"text","content":"\n\n6 March 2025\n \nMetals One Plc\n(\"Metals One\" or the \"Company\")\n \nNotice of General Meeting\n&\nNotification of Capital Reorganisation and Consolidation\n \nMetals One (AIM: MET1), which is advancing strategic minerals projects in Finland and Norway, has posted a notice of General Meeting in connection with the matters announced on 31 January 2025 (the \"Notice\"). The General Meeting will be held on 25 March 2025 at 11.00 a.m. at the offices of Hill Dickinson LLP, 8th Floor, The Broadgate Tower, 20 Primrose Street, London, EC2A 2EW. The Notice is available to view on the Company's website at: https://metals-one.com/investors/. \n \nThe Notice includes a resolution for a Capital Reorganisation. Following the Equity Fundraise, the Company would have a high number of issued shares and therefore the purpose of the Capital Reorganisation is to reduce the number of issued shares to a more manageable amount. \n \nCapital Reorganisation and Consolidation\n \nThe Company currently has 361,467,500 Ordinary Shares of £0.001 each in issue (\"Existing Ordinary Shares\"). The proposal is that each Existing Ordinary Share is to be subdivided into 1 New Ordinary Share of £0.0001 and 9 B Deferred Shares of £0.0001. The New £0.0001 Ordinary Shares will be consolidated on a 1 for 10 basis into 1 New Ordinary Share of £0.001 and the B Deferred Shares will be consolidated on a 1 for 10 basis into 325,320,750 B Deferred Shares. \n \nThe B 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 B Deferred Shares will not be admitted to trading on any exchange. The rights of the New Ordinary Shares and the B Deferred Shares will be set out in the new articles of association proposed to be adopted by the Company.\n \nShare Certificates in respect of the New Ordinary Shares will be issued following the Capital Reorganisation or, in the case of uncertificated holders, Euroclear UK and International Limited will be instructed to credit the CREST participant's account with the New Ordinary Shares. The ISIN for the New Ordinary Shares will be GB00BSY1D385.\n \nExpected Timetable of Events\n \n\n\n\n\nEvent\n\n\nExpected time and date\n\n\...