Argos Resources Limited provides the following update on the Company's proposed disposal of its PL001 Production Licence interests in the North Falkland Basin (the "Licence") to JHI Associates Inc. and cancellation of the admission of the Company's shares to trading on AIM ("Cancellation").
The Company is pleased to confirm that following receipt of the Falkland Islands Government's consent to the transfer of the Licence, the sale and transfer of the Licence (and related interests) has now completed in accordance with the terms of the licence acquisition agreement.
As previously notified, shareholder approval for the proposed winding up of the Company and the appointment of joint liquidators will be sought at the general meeting of the Company ("GM") to be held at Argos House, H Jones Road, Stanley, Falkland Islands at 5pm on 22 September 2023, Falkland Islands time (9pm, UK time).
Subject to the passing of the resolutions proposed at the GM, the Company will go into members voluntary liquidation ("Liquidation") immediately following the GM, as part of the planned process to enable a distribution of surplus assets to shareholders.
Assuming the Liquidation proceeds on 22 September 2023, the Cancellation will be processed and the admission of the Company's shares to trading on AIM will be cancelled with effect from 7am on 26 September 2023.
As the GM and proposed Liquidation will take place after market hours in the UK, the Company will provide further updates on the above matters at 7am on 25 September 2023.