AI assistant
PRL GLOBAL LTD — AGM Information 2023
Nov 27, 2023
65611_rns_2023-11-27_1470e39f-9132-44f3-a431-cd03c75c85c6.pdf
AGM Information
Open in viewerOpens in your device viewer
ACN 006 788 754
==> picture [169 x 26] intentionally omitted <==
28 November 2023
The Manager Company Announcements Platform Australian Securities Exchange Level 4, 20 Bridge Street SYDNEY NSW 2000
ASX Code: CII
AGM Notice & Letter from the Chair
We are pleased to announce, following the results of the AGM held on 22 November 2023, two significant changes for the Company.
Sale of Malaysian Plantation Asset
Shareholders have unanimously approved the sale of Cheekah-Kemayan Plantations Sdn Bhd (CKP), a deal originally announced to the market on 26 September 2023. CKP is a wholly owned subsidiary which owns a palm oil plantation and mill in Malaysia.
The RM155m (AUD51.5m) sale unlocks significant value for the Company both in terms of divesting of a non-core asset and rewarding shareholders by way of special dividends and buybacks. It further allows the Company to consolidate its core fertiliser value-chain, continuing to vertically integrate between its Christmas Island Phosphate operations and downstream fertiliser supply and manufacturing globally.
Name Change to PRL Global
The shareholders also approved the change of name from CI Resources Limited to PRL Global Limited. The change reflects both the company’s origins as Phosphate Resources Ltd - a company founded by the community of Christmas Island in 1990 - and the Group’s continuing global expansion and vertical integration.
As part of the name change, the new ASX ticker code will be PRG - which closely aligns with the overarching brand for the group - PRL Group. For the present time the ticker code remains CII and the market will be informed when the new ticker goes into effect.
The Board looks forward to updating Shareholders of our continued developments in 2024.
For further information on CIR, please visit www.prlgroup.com.au, or please contact:
CONTACTS
David Somerville Elizabeth Lee Chairman Company Secretary PRL Global Limited PRL Global Limited Telephone: +61 8 6250 4900 E: [email protected]
MEDIA
David Tasker Chapter One Advisors E: [email protected] M: 0433 112 936
CI Resources Limited ABN 70 006 788 754 Postal address: 6 Thorogood Street Burswood WA 6100 Telephone: +61 8 6250 4900