Atalaya Mining PLC 2023 Extraordinary General Meeting Statement (4018W)
12 Décembre 2023 - 8:00AM
UK Regulatory
TIDMATYM
RNS Number : 4018W
Atalaya Mining PLC
12 December 2023
12 December 2023
Atalaya Mining Plc.
("Atalaya" or "the Company")
2023 Extraordinary General Meeting Statement
Atalaya Mining plc ("Atalaya" or the "Company") (AIM: ATYM) is
hosting its 2023 Extraordinary General Meeting ("EGM") today at
11.00 a.m. GMT at Hamilton House, 1 Temple Avenue, London, England
EC4Y 0HA. At the AGM, Roger Davey, non-executive Chairman of the
Company, will make the following statement:
"Dear Shareholder,
Welcome to this Extraordinary General Meeting (EGM) of Atalaya
Mining plc.
The purpose of today's EGM is to consider and approve the
resolutions which are necessary to approve the Re-domiciliation of
the Company to Spain. If the resolutions are approved (and the
voting results suggest that all resolutions have been passed), and
following receipt of the required regulatory consent, the Company's
corporate seat and registered office will be transferred from the
Republic of Cyprus to the Kingdom of Spain.
The Company's legal form will be converted from a public limited
company under the laws of the Republic of Cyprus, into a public
limited company (Sociedad Anónima) under the laws of the Kingdom of
Spain. The Company shall no longer be governed by the laws of the
Republic of Cyprus but shall continue to exist as a legal entity
which shall be governed by Spanish law, and the name of the Company
will be changed to Atalaya Mining Copper, S.A.
It is anticipated that the re-domiciliation and the change of
name will take effect on or about May 2024.
The re-domiciliation is being proposed as the incorporation in
Cyprus no longer reflects the Company's geographic and strategic
focus, and therefore represents a legacy structure for the Company.
It forms part of a broader strategy to improve the Company's
profile, gain broader access to institutional investors and enhance
trading liquidity. Within this strategy, as previously announced,
the Company is pursuing an application for the Company's Ordinary
Shares to be admitted to the premium listing segment of the
Official List and to the London Stock Exchange for such Ordinary
Shares to be admitted to trading on the Main Market. The
combination of this and the re-domiciliation also opens the
possibility for the Company to be included in the FTSE UK Index
Series (subject to other eligibility criteria being satisfied at
the time of application), which the Company believes would be in
the interest of its Shareholders.
A number of jurisdictions were evaluated for the
re-domiciliation, including the UK in particular. However, a move
of the Company's parent company to the UK would have resulted in a
capital gains tax event for all shareholders.
Our efforts are aimed at maximising the return for shareholders,
institutions and individuals alike. From our dialogue with
investors, we understand that there are some concerns relating to
potential tax implications on dividend payments by the Company once
migrated to Spain.
We believe that this potential tax impact will be compensated by
the above mentioned benefits of the Step-up to the Main Market. I
would like to take this opportunity to once again thank you for
your continued support of the Company and we all look forward to
new chapters in the Company's journey to maintaining its leading
position as a copper and other critical metals producer in
Europe."
Contacts:
Elisabeth Cowell / Tom
SEC Newgate UK Carnegie / Matthew Elliott + 44 20 3757 6882
4C Communications Carina Corbett +44 20 3170 7973
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Canaccord Genuity
(NOMAD and Joint Henry Fitzgerald-O'Connor
Broker) / James Asensio +44 20 7523 8000
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BMO Capital Markets
(Joint Broker) Tom Rider / Andrew Cameron +44 20 7236 1010
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Peel Hunt LLP
(Joint Broker) Ross Allister / David McKeown +44 20 7418 8900
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About Atalaya Mining Plc
Atalaya is an AIM-listed mining and development group which
produces copper concentrates and silver by-product at its wholly
owned Proyecto Riotinto site in southwest Spain. Atalaya's current
operations include the Cerro Colorado open pit mine and a modern 15
Mtpa processing plant, which has the potential to become a central
processing hub for ore sourced from its wholly owned regional
projects around Riotinto that include Proyecto Masa Valverde and
Proyecto Riotinto East. In addition, the Group has a phased earn-in
agreement for up to 80% ownership of Proyecto Touro, a brownfield
copper project in the northwest of Spain, as well as a 99.9%
interest in Proyecto Ossa Morena. For further information, visit
www.atalayamining.com
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END
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