Business
RESULT OF ANNUAL GENERAL MEETING
RESULT OF ANNUAL GENERAL MEETING.
About this update from Thor Energy Plc
[{"type":"text","content":"\n \nRNS Number : 8650X Thor Mining PLC 29 November 2017 \n\n \n29 November 2017\n \n \n \nTHOR MINING PLC\nRESULT OF ANNUAL GENERAL MEETING\n \nThe Directors of Thor Mining PLC (\"Thor\" or the \"Company\") (AIM, ASX: THR) are pleased to announce that all resolutions proposed at the Annual General Meeting of the Company held on 29 November 2017 in London, were duly passed without amendment.\nAs a result, the Directors have been granted the necessary authorities to complete the conditional element of the placing announced on 20 October 2017, by issuing a total of 41,151,314 ordinary shares of 0.01p each (\"Ordinary Shares\") at a price of 0.8p each (the \"Conditional Placing and Subscription\"), together with one free attaching warrant for every Ordinary Share subscribed for, each valid for a period of 12 months from the date of issue and with an exercise price of 1.2p per warrant (\"Warrants\"). \nIn addition, as required by ASX Listing Rule 10.11, shareholders approved the participations of Mick Billing, Executive Chairman of Thor, and Paul Johnson, a Non-executive Director, in the Conditional Placing and Subscription. Mick Billing and Paul Johnson have agreed to subscribe for 3,000,000 and 3,125,000 new Ordinary Shares respectively (receiving matching Warrants).\nFurther, the issues of 29,473,686 Ordinary Shares and 29,473,686 Warrants pursuant to the firm element of the placing announced on 20 October 2017, which were issued within the Company's placement capacity under ASX Listing Rules 7.1 and 7.1A, have now been retrospectively ratified. This has the effect of refreshing the Company's placement capacity under ASX Listing Rules 7.1 and 7.1A. \nShareholders have also approved the issue and allotment by the Company of 3,531,250 Warrants to the Company's joint sponsoring broker SI Capital Ltd and the adoption of an Employee Share Option Plan which allows eligible persons (employees and directors of Thor) to be offered the opportunity to receive options in order to assist in the attraction, retention and motivation of employees.\nMick Billing, Executive Chairman of Thor, commented: \"I would like to thank shareholders for their engagement and support during the past year. Without the commitment of shareholders, Thor would not have reached this advanced stage in its development.\n\"Financial ...