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Stratex International says Swedish investment company Peter Gyllenhammar has a 3.1% stake in the firm

The gold exploration and development company said the Swedish firm has declared it now holds 14,520,000 ordinary shares in the AIM-listed company
Meeting
Stratex has received a valid notice from a group of investors requisitioning a general meeting

Stratex International PLC (LON:STI) announced that it has received notification from privately-owned investment company, Peter Gyllenhammar AB, confirming that it has a stake of over 3% in the firm, which is currently engaged in a battle with some shareholders over its reverse takeover plans.

The gold exploration and development company said the Swedish firm has declared it now holds 14,520,000 ordinary shares in the AIM-listed company, representing 3.11% of the issued share capital.

READ: Stratex convinced Crusader deal is right direction for company to take

On September 15, Stratex said it had received a valid notice from a group of investors collectively representing approximately a 24% minority in the company requisitioning a general meeting.

The purpose of the requisitioned meeting is to consider proposed resolutions relating to the appointment of two new directors, David Hall and Paul Foord - both of whom are members of the Requisitioning Shareholders - in place of Stratex’s current CEO and chairman, and for the termination of the group’s proposed acquisition of Crusader Resources Limited.

Stratex said then that its board of directors “does not welcome the requisition or proposed resolutions and considers them without foundation or merit and firmly believes that they are not in the best interest of the Company or shareholders.”

READ: Crusader acquisition attractive on all metrics, says Stratex's Marcus Englebrecht

It added that the group’s board and its advisers are in discussions to seek a resolution to the concerns of the requisitioning shareholders - which include AngloGold Ashanti and Teck Resources - and urged shareholders to “take no action at this time”.

Separately, Stratex noted that 22.97% owned associate Goldstone Resources had announced a £1.5mln equity funding, priced at 1.5p. New and existing shareholders participated in the funding, and Stratex’s stake in the business will be diluted down to 13.74%.

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Stratex International plc Timeline

Newswire
November 07 2017

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