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Metals X Limited — Capital/Financing Update 2014
Oct 26, 2014
10401_rns_2014-10-26_a41256ab-dd1b-4f49-b636-7fd31292da05.pdf
Capital/Financing Update
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Metals X Limited is a diversified group exploring and developing minerals and metals in Australia. It is Australia’s largest tin producer, a top 10 gold producer and holds a pipeline of assets from exploration to development including the world class Wingellina NIckel Project.
PRESS RELEASE
27 OCTOBER 2014
CAPITAL CONSOLIDATION TIMETABLE
As proposed in resolution 4 of the Metals X Limited’s ( Metals X or the Company ) forthcoming Annual General Meeting, to be held on 26 November 2014, the Company wishes to advise security holders of the details and proposed timetable in relation to the consolidation of capital.
Reason for the Consolidation
CORPORATE DIRECTORY ASX Code: MLX OTCQX Code: MTXXY
Level 3, 18–32 Parliament Place West Perth WA 6005 Australia
PO Box 1959 West Perth WA 6872 Australia
Metals X has a large number of shares on issue due to historical equity-based capital raisings and corporate transactions. The number of shares is disproportionate to Metals X’s peers, so the Company proposes to reduce this number by way of a share consolidation.
Effect of the Consolidation
If the proposed share consolidation is approved by shareholders, the number of Metals X shares on issue will be reduced from approximately 1.66 billion to approximately 414 million. As the consolidation applies equally to all of the Company’s shareholders, individual shareholdings will be reduced in the same ratio as the total number of the Company’s shares (subject only to the rounding of fractions). It follows that the consolidation will have no material effect on the percentage interest of each individual shareholder in the Company.
Capital structure
t: +61 8 9220 5700 f: +61 8 9220 5757 [email protected] www.metalsx.com.au
ENQUIRIES
Peter Cook Executive Director & CEO [email protected]
The effect of the consolidation on the Company’s capital structure, including options if approved by shareholders, is as follows:
| Securities | Pre-Consolidation | Pre-Consolidation | Post Consolidation | Post Consolidation |
|---|---|---|---|---|
| Number | Exercise Price | Number | Exercise Price | |
| Ordinaryshares | 1,655,826,110 | - | 413,956,528 | - |
| Unlisted Options (01/11/2014) | 1,100,000 | $0.21 | 275,000 | $0.84 |
| Unlisted Options (30/11/2014) | 4,750,000 | $0.30 | 1,187,500 | $1.20 |
| Unlisted Options (25/03/2015) | 715,000 | $0.44 | 178,750 | $1.76 |
Timetable
Warren Hallam
Executive Director [email protected]
Rod Corps Manager - Investor Relations [email protected]
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The timetable for the consolidation if resolution 4 is approved by shareholders is as follows:
| follows: | |
|---|---|
| Event | **Date *** |
| Companyannounces Consolidation and sends Notice of Meetingto shareholders | 24/10/2014 |
| Companyadvises the ASX that shareholders have approved the Consolidation | 26/11/2014 |
| Last dayfor tradingofpre-Consolidation shares | 27/11/2014 |
| Tradingof Consolidated shares on a deferred settlement basis begins | 28/11/2014 |
| Last dayfor Companyto register transfers on apre-Consolidation basis | 02/12/2014 |
| Companysends holdingstatements and new certifcates to shareholders | 03/12/2014 |
| Deferred settlement market ends | 09/12/2014 |
| Normal tradingstarts | 10/12/2014 |
- Indicative and subject to change in accordance with the ASX Listing Rules
For further details refer to the Company’s Notice of Annual General Meeting which can be found on the Company’s website: www.metalsx.com.au.