Aranjin Resources Completes Share Consolidation
Aranjin Resources has completed a share consolidation, reducing the number of issued and outstanding common shares by a factor of 40. This consolidation will become effective at market open on June 17, 2024, under the new CUSIP number 03853W200. The trading symbol remains unchanged. No fractional shares will be issued, with fractions rounded down to the nearest whole number. Shareholders holding shares in brokerage accounts need not take action, while registered shareholders must return their old certificates to Odyssey Trust Company to receive new ones. Warrants, options, and other convertible securities will be adjusted accordingly.
- Share consolidation may lead to a higher share price per unit.
- Effective date for new trading setup is June 17, 2024, providing clarity.
- No change in trading symbol, ensuring continuity for investors.
- Automatic handling for shareholders with brokerage accounts reduces administrative burden.
- Clear instructions provided for registered shareholders to exchange old certificates.
- Potential fractional shares rounded down may lead to minor losses for shareholders.
- Share consolidation may indicate financial restructuring needs.
- Adjustments to warrants, options, and other securities may create complexity for investors.
Ulaanbaatar, Mongolia--(Newsfile Corp. - June 14, 2024) - Aranjin Resources Ltd. (TSXV: ARJN) (the "Company" or "Aranjin Resources") is pleased to announce that it has completed the consolidation of the issued and outstanding common shares (the "Common Shares") on the basis of 1 post-consolidation Common Share for every 40 pre-consolidation Common Shares for (the "Consolidation").
The Common Shares are expected to begin trading on a consolidated basis effective at the opening of the market on June 17, 2024 under new CUSIP number 03853W200. The Company will not be changing its name or trading symbol in connection with the Consolidation.
No fractional post-consolidation Common Shares will be issued upon the Consolidation. If as a result of the Consolidation, a shareholder becomes entitled to a fractional post-consolidation Common Share, such fraction will be rounded down to the nearest whole number.
Shareholders who hold their shares through a securities broker or dealer, bank or trust company will not be required to take any measures with respect to the Consolidation. The Company's transfer agent, Odyssey Trust Company ("Odyssey"), has mailed a letter of transmittal to all registered shareholders of the Company with certificated positions that will contain instructions for exchanging their pre-consolidated Common Shares for post-Consolidated Common Shares. Registered shareholders will be required to return their certificates representing pre-Consolidated Common Shares and a completed letter of transmittal to Odyssey. Any registered shareholder who submits a duly completed letter of transmittal to Odyssey along with the share certificate representing the pre-Consolidated Common Shares, will receive in return a newly issued share certificate or a Direct Registration System representing the post-Consolidated Common Shares.
The Company's outstanding warrants, options, and other convertible securities will be adjusted on the same basis as the Consolidation with respect to the underlying Common Shares exercisable pursuant to the warrants, options, and other convertible securities, with proportionate adjustments being made to applicable exercise or conversion prices, as applicable.
On behalf of the Board
Matthew Wood
Chairman
Aranjin Resources Ltd.
+976 7732 1914
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary Statements
Certain information contained herein constitutes forward-looking information or statements under applicable securities legislation and rules. Such statements include, but are not limited to, statements with respect to the Australian Transaction, any approval thereof by the TSXV or by shareholders of the Company, and any intended exploratory work or exploration targets of the Company on the Australian Projects. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Aranjin to be materially different from those expressed or implied by such forward-looking statements. Although management of Aranjin has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements. Neither party will update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. The parties caution readers not to place undue reliance on these forward-looking statements and it does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212994
FAQ
What is the effective date of Aranjin Resources' share consolidation?
What is the new CUSIP number for Aranjin Resources post-consolidation?
Will Aranjin Resources change its trading symbol after the consolidation?
How will fractional shares be handled in Aranjin Resources' consolidation?
Do shareholders need to take any action for the Aranjin Resources' consolidation?
How will Aranjin Resources' outstanding warrants and options be adjusted?
