Circular for AGMhttps://www.kincoracopper.com/media/downloads/AGM/AGM_Circular_2020.pdf
Shareholders will be asked to vote on a number of standard AGM motions but also included this year we are voting to give management the option to execute a 3 for 1 share rollback.
The main reason for the proposed rollback is that the ASX has a listing requirement that shares need to be priced at a minimum of $.20.
It must also be taken into consideration that KCC currently has over 200m shares outstanding. The proposed listing on the ASX is going to be an IPO which obviously means more shares similar to a PP but for the ASX.
3 for 1 is not that bad, cleans up the share structure and if hole #8 turns out to be something special....
Just an F.Y.I.
Chip