The general meeting of the shareholders of MetalNRG plc (LON:MNRG) is due to be held at 10.00 a.m. on 5 December 2024 and contains, inter alia, a proposal for the consolidation of the existing ordinary shares of nominal value 0.01p each on a 100 into 1 basis, such that every 100 Existing Ordinary Shares are consolidated into 1 new ordinary share of nominal value 1p.
At the General Meeting it will be proposed that the resolution be amended so that the consolidation occurs immediately and is not subject to publication of a prospectus. This is to expedite the administrative process of the Share Consolidation and to avoid it taking place simultaneously with the planned reverse takeover. If the resolution, as amended, is duly passed, admission in respect of the New Ordinary Shares will become effective and dealings in New Ordinary Shares will commence on 6 December 2024. As a result of the Share Consolidation, the ISIN will change from GB00B15FS791 in respect of the Existing Ordinary Shares to GB00BS2GR553 in respect of the New Ordinary Shares.
We are also pleased to report that MetalNRG intends to change its name to “Atlas Metals Group plc” to be effective on 10 December 2024. The Company’s TDM will then change to “AMG”. A confirmatory announcement in respect of the name change will be made on 9 December 2024. The name change will coincide with the launch of a new website for the Company at https://atlasmetalsgroup.com.
