Business
Result of AGM
Result of AGM.
About this update from Tamar Minerals Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n Tectonic Gold PLC(\"Tectonic\" or the \"Company\") Result of AGM, Completion of the Acquisition of Godolphin Exploration limitedChange of Name, Share Consolidation and Board Changes The Board of Tectonic is pleased to announce that all resolutions set out in the Notice of Annual General Meeting (\"AGM\") dated 11 April 2025 were duly approved and passed by shareholders by way of poll at the Company's AGM held at 8.00 a.m. (UK time) earlier today at Level 3. 66 Hunter Street. Sydney. 2000. NSW. Australia. Completion of Acquisition of Godolphin Exploration Limited (“the Acquisition”) Independent shareholders approved the Rule 9 waiver granted by the Panel on Takeovers and Mergers at the AGM enabling the Acquisition of Godolphin Exploration Limited (“Godolphin”) to complete. The consideration for the Acquisition amounts to c.£3.66 million, which will be satisfied by the issue of 1,832,127,500 New Ordinary Shares to Godolphin Shareholders. Debt to Equity Conversion The current Directors of the Company have converted deferred Director fees and salaries into 100,000,000 New Ordinary Shares (the “Debt to Equity Conversion”). Share Consolidation As a result of the New Ordinary Shares issued for the Acquisition, the Debt to Equity Conversion and the issue of 9 further New Ordinary Shares, the Company’s share capital, prior to the planned share consolidation (outlined below) has increased to 2,889,316,100 ordinary shares of 0.01 pence each. As a result of Resolution 9 having been passed at the AGM, shareholders have approved the share consolidation and every 20 existing ordinary shares of 0.01 pence each (\"Existing Ordinary Shares\") at the Record Date of 6.00 pm on 12 May 2025 will be consolidated into one new consolidated ordinary share of 0.2 pence each (the \"Consolidated Shares\") (the \"Share Consolidation\"). Therefore the 2,889,316,100 Existing Ordinary Shares will be consolidated into 144,465,805 Consolidated Shares. Application has been made to the Aquis Growth Market for the 144,465,805 Consolidated Shares to be admitted to trading on Aquis. It is expected that the Consolidated Shares will be credited in CREST and trading on Aquis will commence at 8:00 am tomorrow, Tuesday 13 May 2025 under new SEDOL code BTXXYC8 and new ISIN code GB00BT...