Can anything shut down the Gold rally?
LONDON - Cadence Minerals Plc (AIM:KDNC) announced Monday that shareholders approved the resolution to disapply pre-emption rights at the company’s General Meeting held earlier in the day.
According to a statement released by the mining investment firm, the resolution received strong support with 88,592,471 votes (91.83%) cast in favor, while 7,883,680 votes (8.17%) were cast against. An additional 178,107 votes were withheld, which the company noted are not counted in the calculation of percentages for or against the resolution.
The disapplication of pre-emption rights typically gives a company more flexibility to issue new shares without first offering them to existing shareholders in proportion to their current holdings.
Cadence Minerals is an investment company focused on mining assets and has been listed on the London Stock Exchange’s AIM market.
The information was disclosed in a regulatory news service announcement issued by the company following the conclusion of the General Meeting.
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