12th Jul 2024 09:14
Mining Minerals & Metals PLC - natural resource exploration acquisition vehicle - Calls general meeting of shareholders for July 29 to approve its reverse takeover of Georgina Energy PLC and related equity raise. MMM will buy Georgina Energy for up to GBP5 million in the form of up to 57.5 million new shares. It also will raise GBP5 million from the placing of 40.0 million shares at 12.5 pence each. Follow this, MMM will conduct a five-into-one share consolidation and relist on the London Main Market under the name Georgina Energy PLC.
Georgina Energy has two principal onshore interests in Australia, held through wholly owned Australian subsidiary Westmarket O&G. It has a 100% working interest in the Hussar prospect, located in the Officer Basin in Western Australia. It also has a right to earn a 75% to 90% interest in the Mount Winter prospect in the Amadeus Basin of the Northern Territory.
MMM shares are suspended from trading due to the reverse takeover.
By Tom Waite, Alliance News editor
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