Resolution Minerals announces share consolidation

Resolution Minerals (ASX:RML) has announced a proposal to consolidate its share capital. This will be subject to shareholder approval at the Annual General Meeting on 29 November 2024. The initiative will convert every eight existing securities into one new security, aiming to make the share price more attractive and reflective of the company's position.

Summary of proposed share consolidation

Resolution Minerals (ASX:RML) has proposed a share consolidation to convert every eight existing securities into one new security. This move aims to improve the company's capital structure and increase its appeal to investors. The board unanimously supports this proposal and recommends shareholders vote in favor at the upcoming AGM. The consolidation will reduce the number of shares from 1.61 billion to approximately 201 million, with a similar reduction in options and performance rights. The effective date for the consolidation is set for 29 November 2024, with a detailed timetable provided for trading and settlement adjustments. The company aims to create a share price that better reflects its market position without diluting shareholders' proportional interests.

Executive commentary on share consolidation

The consolidation is intended to realign the company's capital structure with its current market position and is expected to make the share price more attractive to a wider range of investors.