12th Apr 2016 16:24
LONDON (Alliance News) - Edge Resources Inc said shareholders have almost unanimously approved the company's plan to delist from AIM at a meeting held on Tuesday.
Edge Resources will see its shares delisted from AIM this Friday after 99.92% of shareholders voted in favour of the proposal.
Edge made the decision to delist after its lender demanded the company repay its outstanding debt in full and issued a notice stating it will enforce security under the Bankruptcy and Insolvency Act in Canada earlier this month.
The deadline by which Edge was expected to have repaid the USD8.4 million it owes in debt to Alberta Treasury Branch has passed, and said it is continuing discussions with its lenders.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.