Picture of Argos Resources logo

ARG Argos Resources News Story

0.000.00%
gb flag iconLast trade - 00:00
EnergyHighly SpeculativeMicro CapValue Trap

REG - Argos Resources Ltd - Result of General Meeting




 



RNS Number : 3263X
Argos Resources Ltd
04 May 2021
 

 

4 May 2021

 

ARGOS RESOURCES LIMITED

("Argos" or "the Company")

 

Result of General Meeting

 

On 7 April 2021 Argos Resources Limited (AIM: ARG.L), the Falkland Islands based exploration company focused on the North Falkland Basin announced that the Company had conditionally raised US$550,000 through a subscription by certain new shareholders and Ian Thomson, Executive Chairman of the Company. The Fundraise was conditional on the passing of the Resolutions at a General Meeting.  The Company is pleased to announce that the General Meeting was held in the Falkland Islands on Friday 30 April 2021 and all Resolutions were duly passed by Shareholders.

The Company announced on 27 April 2021 that the Falkland Islands Government has extended the second term of the Company's PL001 Licence by twelve months, to 1 May 2022. Following successful completion of the Fundraise, the Company intends to secure partners and commence exploration drilling as soon as possible.

Application has been made for the Subscription Shares to be admitted to trading on AIM ("Admission") and Admission is expected to take place on 5 May 2021.

 

Following Admission of the Subscription Shares, which rank pari passu to the Existing Ordinary Shares, the Company will have 235,141,206 ordinary shares of 2p each Ordinary Shares in issue, all of which have voting rights. Accordingly, this figure of 235,141,206 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

 

Subject to Admission occurring, all conditions associated with the Fundraise have now been satisfied and the net proceeds of the Fundraise, together with the Company's existing cash resources, will provide Argos with sufficient working capital until at least 1 May 2022.

 

Further details on the Fundraise are set out in the Circular dated 7 April 2021, which is available on the Company's website at www.argosresources.com. Capitalised terms in this announcement are as defined in the Circular.

 

For further information:

 

Argos Resources Limited (+500 22685)

www.argosresources.com 

Ian Thomson, Chairman

John Hogan, Managing Director

 

Cenkos Securities PLC

Neil McDonald (+44 131 220 6939)

Derrick Lee (+44 131 220 9100)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
ROMFLFESETIVIIL

Recent news on Argos Resources

See all news