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LONDON - Anglesey Mining plc (AIM:AYM), a UK minerals development company, announced Thursday that shareholders rejected all resolutions proposed at its General Meeting, blocking the company's planned capital reorganization and threatening its financial future.
The failed resolutions included proposals for share consolidation and subdivision, authority to allot shares, amendments to the Articles of Association, and disapplication of statutory pre-emption rights. All four resolutions were rejected by approximately 64% of votes cast.
As a result, Anglesey will not be able to access its previously arranged Equity Financing Facility with Alumni Capital Limited, which was conditional upon implementing the capital reorganization.
The company warned in its statement that the failed vote creates "material uncertainty over the going concern status of the company." The board will now attempt to preserve remaining cash resources while urgently exploring alternative funding sources.
Anglesey Mining cautioned that if alternative funding cannot be secured in a timely manner, "the Directors believe that it is likely that the Company could be forced to enter into administration."
The General Meeting was held following a circular to shareholders dated September 26, 2025. The company indicated it will make further announcements as appropriate regarding its financial situation.
According to the voting results disclosed in the press release statement, approximately 153 million votes were cast on the resolutions, with over 7 million votes withheld.
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