Australian Potash Limited (ASX:APC) Announces Name Change and Share Consolidation
Name Change and Share Consolidation
Australian Potash Limited (ASX: APC) has officially approved a change in its name to APC Minerals Limited during its Annual General Meeting. This change, registered with ASIC, will be effective on ASX platforms next week. The company’s ASX ticker will remain unchanged.
Shareholders also approved a consolidation of the Company’s issued capital on a forty (40) for one (1) basis, aimed at aligning the number of securities with the company’s future plans. This move is intended to enhance the overall capital structure of APC.
Capital Structure Details
Post-consolidation, the number of shares listed will be reduced from approximately 4.07 billion to about 101.76 million. Additionally, the number of listed options, unlisted options, and performance rights will be adjusted appropriately, aligning with the consolidated share count. For instance, listed options will change from 3.66 billion to 91.63 million.
Timeline for Changes
The timeline for the consolidation includes trading changes starting from 29 November 2024, with normal trading expected to commence on 10 December 2024. Relevant updates and documentation will be dispatched to security holders by 9 December 2024.
Executive Commentary
Matt Shackleton, Managing Director & CEO, stated that these changes are significant for APC Minerals Limited, aligning the company’s capital with its strategic goals and future activities.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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