Business
NY Listing, Share consolidation and Notice of GM
NY Listing, Share consolidation and Notice of GM.
About this update from Phoenix Copper Ltd. (united Kingdom)
[{"type":"text","content":"\n \nRNS Number : 4953V Phoenix Global Mining Ltd 24 July 2018 \n\n24 July 2018\nPhoenix Global Mining Ltd ('Phoenix' or the 'Company')\nProposed New York Listing, Consolidation of Share Capital and Notice of General Meeting \nPhoenix Global Mining Ltd (AIM:PGM.L), the AIM quoted North American-focused base and precious metals exploration and development company, is pleased to announce that it has posted a Notice of General Meeting to shareholders, which includes information regarding a proposed dual listing on the New York OTCQX Market and the consolidation of the Company's share capital.\nThe General Meeting will be held at the Washington Mayfair Hotel, 5 Curzon Street, London W1J 5HE on 14 August 2018 at 11.00 a.m. \nHighlights \n· Proposed dual listing on the New York OTCQX Market to provide access to North American investors to hold shares in the Company \n· Proposed share consolidation of every 10 existing ordinary shares into 1 (\"10 for 1\") new ordinary share in order to meet the requirements permissible for a listing on the OTCQX\n· US corporate adviser and OTCQX sponsor both appointed \n· OTCQX listing targeted for late September 2018\nCommenting on the proposed listing and share consolidation, the Company's Chairman, Marcus Edwards-Jones, said:\n\"The proposed dual listing on the New York OTCQX Market, we believe, will be a transformational step for the Company and I hope that shareholders will support us in this decision. I am pleased to note that those that we have been able to consult have all been in favour.\n\"With all our assets based in North America, and a focus on Idaho, it is appropriate that the Company's shares are also listed on a recognised US exchange, thereby offering improved access to the Company's shares to a wider range of North American investors. As mentioned in my letter to shareholders, there would appear to be notable demand for our shares in the US based on several rounds of meetings with North American investors, which is currently unrealised due to the difficulty for North American investors to purchase securities listed overseas and the reluctance to acquire penny-based shares. The proposed dual listing, combined with the share consolidation, will provide us with the ability t...