Trident Royalties Announces Results of Court Meeting and General Meeting
Trident Royalties Limited (Trident or the Company), a growth-focused mining royalty and streaming company, recently disclosed the outcomes of its court meeting and general meeting in accordance with the proposed disposal of its entire royalty portfolio to ASX-listed graphite producer EcoGraf Limited.
The court meeting was held on November 22, 2021. A vast majority of Trident’s shareholders voted in favor of approving the disposal of the royalty portfolio, amounting to 80.05% by number and 99.73% by value. The Court gave its approval for the proposed disposal of Trident’s royalty portfolio to EcoGraf Limited following the positive shareholder vote.
Additionally, the general meeting was held on November 24, 2021. The resolutions presented at the general meeting were passed with overwhelming shareholder support. All resolutions proposed, including the special resolution for the disposal of the royalty portfolio, were carried out with 100% of the number of shareholders and voting shares being in favor.
The successful outcomes of both the court meeting and general meeting indicate strong support and confidence from Trident’s shareholders in its strategic decision to divest its royalty portfolio to EcoGraf Limited. The disposal of the royalty portfolio allows Trident to further focus on its core strategy of acquiring new royalties and streams in line with its growth objectives.
Upon completion of the disposal of the royalty portfolio, Trident will receive a buy-in consideration of A$6.5 million in cash and 40 million fully paid ordinary EcoGraf shares. This transaction not only provides Trident with immediate cash proceeds but also positions the Company to benefit from EcoGraf’s growth and advancement in the graphite production sector.
In conclusion, the positive outcomes of the court meeting and general meeting reflect the overwhelming support of Trident’s shareholders for the strategic decision to divest its royalty portfolio to EcoGraf Limited. This transaction paves the way for Trident to focus on expanding its royalty and streaming portfolio, driving growth, and maximizing value for its shareholders in the future.
For more information on Trident Royalties Limited and its recent initiatives, interested parties can access the official company website at www.tridentroyalties.com or refer to the latest news updates on Godzillanewz.com.