30th May 2018 12:59
LONDON (Alliance News) - Mosman Oil & Gas PLC said Wednesday that Toronto-listed GEM International Resources Inc, in which Mosman holds shares, has secured shareholder approval of several resolutions at its annual general meeting on Tuesday.
The 2017 financial statements were approved, as well as a 1 for 10 share consolidation. A stock option plan was also approved and the diamond miner approved the change of its name to Norseman Capital Ltd.
Michael Ballanger has stepped down the board to focus on his other businesses, and has been replaced by Sean Hurd.
Mosman said it understands that GEM intends to complete a placing to give Norseman working capital to find new projects and establish a new investor base.
Shares in Mosamn Oil & Gas were up 0.8% at 0.60 pence on Wednesday.
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Mosman Oil & Gas