Result of AGM

RNS Number : 0225I

Stellar Resources PLC

27 June 2013

 



27 June 2013

Stellar Resources PLC

("Stellar Resources" or the "Company")

 Result of AGM

The Company announces that at the Annual General Meeting of the Company held earlier today all resolutions were duly passed.

As a result, each of the Company's 92,230,985 existing ordinary shares of 1p each ("Existing Ordinary Shares") has been sub-divided into one new ordinary share of 0.01p (a "New Ordinary Share") and one new deferred share of 0.99p (a "B Deferred Share") (the "Capital Reorganisation"). 

Dealings on AIM in the Existing Ordinary Shares will cease at the close of business today 27 June 2013. Application has been made for the admission of 92,230,985 New Ordinary Shares to trading on AIM ("Admission"). Admission is expected to take place at 8.00 a.m. on 28 June 2013. No application will be made for admission of the B Deferred Shares to trading on AIM nor will any such application be made to any other exchange.

Immediately following Admission, the enlarged issued ordinary share capital of the Company will consist of 92,230,985 New Ordinary Shares. The Company holds 232 New Ordinary Shares in treasury. Therefore the total number of shares with voting rights in the Company will be 92,230,753. This figure 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 to their interest in, the share capital of the Company.

A copy of the revised Articles of Association adopted at the General Meeting will be made available on the Company's website at www.stellar-resources.com.

The New Ordinary Shares will continue to carry the same rights and benefits as those attached to the Existing Ordinary Shares (save for the reduction in nominal value). The number of New Ordinary Shares in issue following the Capital Reorganisation is unchanged from the number of Existing Ordinary Shares in issue immediately prior to the Capital Reorganisation. Shareholders' individual holdings will be for the same number of New Ordinary Shares as the number of Existing Ordinary Shares immediately prior to the General Meeting. Any share certificates for the Existing Ordinary Shares will remain valid for the New Ordinary Shares.

For further enquiries, please contact:

Stellar Resources PLC
David Lenigas
Don Strang	[phone]
Northland Capital Partners Limited (Nominated Adviser and Broker)
Luke Cairns
Edward Hutton	[phone]
Pelham Bell Pottinger (Investor and Media Relations)
James Macfarlane	[phone]

 

END

 

 

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