LONDON - CleanTech Lithium PLC (LON:CTL), an AIM-listed company specializing in lithium extraction for the clean energy sector, has announced a share consolidation plan to be voted on at its forthcoming Annual General Meeting (AGM) on Tuesday. The company stated that, subject to shareholder approval, it will consolidate every two existing ordinary shares of £0.01 each into one new ordinary share of £0.02. This move is expected to streamline the company's share capital structure.
The new ordinary shares, post-consolidation, will have the International Securities Identification Number (ISIN) JE00BTJ01443 and the Stock Exchange Daily Official List (SEDOL) number BTJ0144. The consolidation is scheduled to take effect from 8:00 a.m. on the day following the AGM, with dealings in the new shares commencing on the AIM market at that time.
As per the provided timetable, the company's shareholders have until 11:00 a.m. on the day prior to the AGM to submit their proxy forms and voting instructions. The results of the AGM will be announced on the same day, with the record date for the share consolidation being set for 6:00 p.m. on Tuesday.
Following the consolidation, the number of shares in issue will be reduced from 167,889,592 to 83,944,796. The company has also outlined the expected dates for crediting CREST accounts with the new ordinary shares in uncertificated form and for dispatching definitive certificates for shares in certificated form.
CleanTech Lithium's activities are focused on advancing lithium projects in Chile, with a commitment to net-zero operations and the use of Direct Lithium Extraction technology powered by renewable energy. The company's projects are located in the lithium-rich region of Chile, with significant potential for development and operational advantages.
The press release also states that further details regarding the reasons for and background to the proposed share consolidation are available in a circular on the company's website, which also includes the notice of the AGM.
This information is based on a press release statement issued by CleanTech Lithium PLC and is intended to provide shareholders and the market with factual updates on the company's corporate actions.
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