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Cobra Resources Plc ( (GB:COBR) ) has provided an update.
Cobra Resources Plc announced the posting of a General Meeting (GM) notice to shareholders, which includes a proposed Rule 9 Waiver Resolution. This resolution seeks approval to waive mandatory offer provisions under the Takeover Code, allowing certain stakeholders to increase their ownership in the company through additional share placements. The fundraising aims to raise £1.7 million, and the resolution’s approval will enable the issuance of additional shares, potentially affecting shareholder dynamics and enhancing the company’s capital structure.
More about Cobra Resources Plc
Cobra Resources Plc is a mineral exploration and development company focused on advancing a potentially world-class ionic Rare Earth Elements discovery at its Boland Project in South Australia.
YTD Price Performance: 4.55%
Average Trading Volume: 1,790,170
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £9.2M
For a thorough assessment of COBR stock, go to TipRanks’ Stock Analysis page.
