Argos Resources Ltd Result of General Meeting (3263X)
04 May 2021 - 04:00PM
UK Regulatory
TIDMARG
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)
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END
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