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Why Is Adavale Resources Consolidating Shares 20:1 Ahead of Drilling Program?
4:30pm on Monday 26th of May, 2025 AEST
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Why Is Adavale Resources Consolidating Shares 20:1 Ahead of Drilling Program?
4:30pm on Monday 26th of May, 2025 AEST
Key Points
Proposed 20:1 share consolidation reducing shares from ~2.29 billion to ~114 million
Consolidation aims to create a more effective capital structure and appeal to institutional investors
Options and performance rights to be consolidated and exercise prices adjusted accordingly
Shareholder approval sought at General Meeting on 27 June 2025
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