JOHANNESBURG (miningweekly.com) – The shareholders of Aim-listed explorer GoldStone Resources have passed a resolution approving the waiver of obligations on Stratex in connection with Stratex's proposed subscription of £1.25-million worth of shares in GoldStone.
As at October 31, Stratex would hold 20.8-million ordinary shares in GoldStone, representing 33.45% of the voting rights of GoldStone, together with warrants to subscribe for a further 20.8-million GoldStone shares at 7p apiece.
If Stratex exercised the warrants in full and assuming there was no other issues of shares by GoldStone, Stratex would hold 41.6-million GoldStone ordinary shares, representing 50.1% of the enlarged voting rights of GoldStone.
In addition, with effect from October 31, GoldStone chairperson Jonathan Best, GoldStone exploration director Dr Hendrik Schloemann and GoldStone director Benjamin Hill would resign from the board, while Stratex chairperson Christopher Hall, Stratex CEO Bob Foster and Stratex’s Emma Priestley would be appointed to the board.