Mount Burgess Mining share consolidation proposal

Mount Burgess Mining (ASX:MTB) has revealed plans to consolidate its issued share capital. The proposal involves a 1-for-4 share consolidation, subject to shareholder approval at the AGM on 28 November 2024. This move aims to decrease the total shares from approximately 1.3 billion to 324.5 million without affecting the overall market capitalization.

Overview of Mount Burgess Mining's strategic move

Mount Burgess Mining's proposed share consolidation aims to reduce its extensive share count, currently at 1.3 billion, to about 324.5 million. This strategy seeks to maintain individual shareholder percentage interests and market capitalization while potentially boosting the share price four-fold. The consolidation affects both ordinary shares and unlisted share options, reflecting an adjusted exercise price and ratio. Important dates include the AGM on 28 November 2024 and the finalization of the consolidation process by 12 December 2024. With this streamlined capital structure, Mount Burgess Mining anticipates improved share liquidity and attractiveness.

Executive insights on share consolidation

The consolidation is designed to streamline our capital structure and potentially enhance the marketability and liquidity of our shares. It is not expected to materially alter shareholders' overall percentage interest or the market capitalization of the company.