Business
Trading Update and Notice of GM
Trading Update and Notice of GM.
About this update from Wishbone Gold Plc
[{"type":"text","content":"\n \nRNS Number : 5250X Wishbone Gold PLC 19 December 2019 \n\n \n19 December 2019\nWishbone Gold Plc (\"Wishbone Gold\" or the \"Company\")\nWishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources / NEX: WSBN\n \nTrading Update and Announcement of General Meeting\nto effect Share Consolidation and Subdivision\n \nTrading Update\n \nAs the Company is approaching its accounting year-end of 31 December, the Board is pleased to report the following figures from its unaudited management accounts for the period (1 January 2019 - 17 December 2019). Revenue was US$10,571,686, which is a slight decrease of US$324,359 from the previous 12 months' (Y/E 31 December 2018) US$10,896,045. We do, however, expect there to be a year-on-year increase for the 12 Month period ending 31 December 2019. Trading profit for the same period was US$56,986 an increase of US$10,715 from US$46,271. The trading profit margin increased to .54% from .42% in the previous year.\nThe Company expanded its operations in Hong Kong, and we are hopeful that the expansion will increase at a greater rate as the situation in the region settles down.\nThe Company will begin operations in Europe at the end of December 2019, which will have a positive impact on the group's turnover and profitability.\nThe Company is pleased to announce that it has agreed a settlement with the Scotia Group of Companies (Sion Honduras S.A., Scotia International of Nevada Inc) concerning the operations in Honduras. This includes the payment to the Company of US$600,000 over the next six months. The first US$50,000 has already been paid. There is a further payment of up to US$400,000 over the next two years to be paid out of profits, if any, from the Honduran operations. The plant is currently not in production. \n \nGeneral Meeting (\"GM\") Notice\nThe Company has today issued a notice of an GM to be held on 10 January 2020. This contains a resolution to effect a capital reorganisation. It is proposed that every 100 existing ordinary shares will be consolidated and then subdivided into 1 deferred share of 9.9p each and 1 New Ordinary Share of 0.1p each. This will mean that there will be fewer shares in issue but the proportions held by each shareholder will remain the same. \nApplication will be made for the admission of the New Ordinary Shares for ...