ERX 0.00% 12.0¢ exore resources ltd

The reason for the voluntary escrow of AOP's 90M shares is to...

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  1. 3,335 Posts.
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    The reason for the voluntary escrow of AOP's 90M shares is to enable them to transfer these shares to their shareholders. As I have previously said although it is likely that some AOP shareholders receiving these shares may sell their shares, however it is also likely that sop holders may actually increase their holding thus taking up the slack.

    AOP NOTICE OF GENERAL MEETING

    RESOLUTION 1 – APPROVAL FOR AN EQUAL REDUCTION OF CAPITAL AND IN-SPECIE DISTRIBUTION
    To consider and, if thought fit, to pass, with or without amendment, the following Resolution as an ordinary resolution:“That, for the purposes of Section 256B and 256C(1) of the Corporations Act and for all other purposes, approval is given for the capital of the Company to be reduced by the Company making a pro-rata in specie distribution of up to approximately 90,000,000 Exore Shares to all holders of Company Shares on the Record Date (rounded down to the nearest whole Exore Share), with the consequence that each Shareholder on the Record Date shall be deemed to have consented to becoming an ExoreShareholder and being bound by its constitution, on the terms and conditions set out in the Explanatory Statement.”
 
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