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Independent Adviser(s): Simmons Corporate Finance (Rule 18)
Company Meeting Date: 23/06/2016
Bathurst Resources Limited (“Bathurst”) proposed to raise A$4.25 million through an issue of convertible notes to wholesale investors, including Republic Investment Management Pte Limited (“RIM”).
RIM held 18.36% of Bathurst’s ordinary shares. As a result of the issue of convertible notes, RIM would increase its control of the voting rights in Bathurst to 24.36%.
Bathurst was required by rule 16 of the Code to seek shareholder approval for the future issue of shares on conversion of the convertible notes.
At a special meeting on 23 June 2016, Bathurst shareholders approved the proposed issue of convertible notes and RIM’s increase in voting control.