Result of General Meeting
Anglesey Mining PLC announced that the resolutions proposed at its General Meeting were not passed due to a lack of requisite majorities. Consequently, the company will not proceed with the proposed Capital Reorganisation. The Equity Financing Facility with Alumni Capital Limited, conditional on the Capital Reorganisation, will not be available, preventing the company from drawing down any amounts. Regarding the resolutions, approximately 55.46 million votes were cast in favor of the consolidation and sub-division of shares, representing 36% of shares voted, while roughly 98.39 million votes were against, representing 64%. Given these results and the unavailability of the Equity Financing Facility, there is material uncertainty regarding the company's ability to continue as a going concern, and the board will explore alternative funding sources. If alternative funding cannot be secured, the company may be forced to enter administration.
Select text to share a quote on X · sign in to keep highlights & notes in your AYM notes
Anglesey Mining plc (AIM:AYM), the UK minerals development company, announces the results of voting on the resolutions put to the General Meeting held earlier today. The full text of the resolutions can be found in the notice of General Meeting contained in the Company's circular to Shareholders dated 26 September 2025 (the "Circular").
The Resolutions were not passed by the requisite majorities and therefore the Company will not proceed with the proposed Capital Reorganisation. As noted in the Circular, the Equity Financing Facility with Alumni Capital Limited was, inter alia, conditional on the Company implementing the proposed Capital Reorganisation. Therefore, as a result of the necessary resolutions failing to have passed, the Company will not be able to drawdown any amounts under the Equity Financing Facility.
As noted in the Circular, should the Company be unable to complete the Capital Reorganisation and therefore avail of the Equity Financing Facility, it would be left with a limited pool of alternative options and there would be material uncertainty over the going concern status of the Company. Following the results of today's General Meeting, the Board will seek to preserve the Company's cash resources as far as practicable, and will urgently explore alternative sources of funding. However, there can be no guarantee that the Company will be able to find alternative sources of funding on a timely basis. If alternative funding is not available, the Directors believe that it is likely that the Company could be forced to enter into administration.
Further announcements will be made as and when appropriate.
The voting in respect of the Resolutions was as follows:
| Resolution | Votes for | % of shares voted | Votes against | % of shares voted | Total votes cast | Votes withheld |
|---|---|---|---|---|---|---|
| 1. Consolidation and sub-division of shares | 55,464,765 | 36.0% | 98,397,538 | 64.0% | 153,862,303 | 7,235,705 |
| 2. Authority to allot shares | 55,494,509 | 36.1% | 98,245,674 | 63.9% | 153,740,183 | 7,357,825 |
| 3. Amendment to Articles of Association | 55,456,892 | 36.1% | 98,321,945 | 63.9% | 153,778,837 | 7,319,171 |
| 4. Disapplication of statutory pre-emption rights | 55,327,830 | 36.0% | 98,534,473 | 64.0% | 153,862,303 | 7,235,705 |
Note: "Votes withheld" are not votes in law, and are not included in the votes "for" or "against" a resolution.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.