REG - Argos Resources Ltd - Proposed Appointment of Liquidators & Cancellation

Argos ResourcesAnnouncement

19/09/2023 07:00

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RNS Number : 8960M  Argos Resources Ltd  19 September 2023

19 September 2023

 

ARGOS RESOURCES LIMITED

("Argos" or "the Company")

 

Proposed Appointment of Liquidators and Cancellation

Argos Resources Limited (AIM: ARG.L) is pleased to provide the following
update on the Company's proposed disposal of its PL001 Production Licence
interests in the North Falkland Basin (the "Disposal") to JHI Associates Inc.
("JHI") and cancellation of Admission to trading on AIM ("Cancellation").

As previously notified, the Disposal and the Cancellation were approved by
Shareholders at a general meeting of the Company held on 26 May 2023,
and shareholder approval for the proposed winding up of the Company and the
appointment of joint liquidators will be sought at the general meeting of the
Company ("GM") to be held at Argos House, H Jones Road, Stanley, Falkland
Islands at 5pm on 22 September 2023, Falkland Islands time (9pm, UK time).

The Company is pleased to confirm that the Falkland Islands Government has
provided its consent to the transfer of Argos' PL001 Production Licence
interests in the North Falkland Basin, and Argos and JHI are now working
towards completion of the licence acquisition agreement ("LAA") in the coming
days.

If the LAA is completed prior to the GM, and the resolutions proposed at the
GM are duly passed, the Company will go into members voluntary liquidation
("Liquidation") immediately following the GM, as part of the planned process
to enable a distribution of surplus assets to shareholders.

Assuming the Liquidation proceeds on 22 September 2023, the Cancellation will
be processed and the Company's shares will be cancelled from Admission to
trading on AIM with effect from 7am on 26 September 2023.

As the GM and proposed Liquidation will take place after market hours in the
UK, the Company will provide further updates on the above matters at 7am on 25
September 2023.

The Company announces that its nominated adviser and broker has changed its
name from Cenkos Securities plc to Cavendish Securities plc following
completion of its own corporate merger.

For further information:

 

Argos Resources Limited (+500 22685)

www.argosresources.com

Ian Thomson, Chairman

John Hogan, Managing Director

 

Cavendish Securities PLC

Neil McDonald (+44 131 220 6939)

Derrick Lee (+44 131 220 9100)

 

 

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