At the Extraordinary General Meeting of Arctic Minerals AB (publ) ("Arctic Minerals" or the "Company") on 9 December 2024, it was resolved on a reverse share split of the Company's shares, whereby ten (10) existing shares shall be consolidated into one (1) share (Sw. sammanläggning 1:10) (the "Reverse Share Split"). The board of directors was further authorised to determine the record date for the Reverse Share Split. The board of directors has today, on 26 February 2025, resolved that the record date for the Reverse Share Split shall be on 5 March 2025.
The reverse share split
The board of directors' resolution entails that the last day of trading in the Company's share, before the Reverse Share Split, will be on 3 March 2025, and the first day of trading in the Company's share, after the Reverse Share Split, will be on 4 March 2025. This means that the share price as of 4 March 2025, will reflect the effect of the Reverse Share Split. As a result of the Reverse Share Split, the Company's share will have a new ISIN code as of 4 March 2025: SE0024172779.
Shareholders will automatically receive a new, lower number of shares in proportion to the number of shares held on the record date. If a shareholder's shareholding on the record date does not correspond to a full number of new shares, i.e., is not evenly divisible by ten (10), such shareholder will receive as many shares as necessary free of charge (1-9) that their shareholding, after adding the shares provided, becomes evenly divisible by ten (10), so-called rounding up. Provision of shares is made through Euroclear Sweden AB, without the need for further measures to be taken by shareholders.
Following the Reverse Share Split, the number of shares and votes in the Company will correspond to 40,002,719, each share with a quota value of SEK 0.04.
Timetable for the Reverse Share Split
The following timetable applies to the Reverse Share Split:
Date | Action |
26 February 2025 | Decision on the record date for the Reverse Share Split. |
3 March 2025 | Last day of trading in the Company's share before the Reverse Share Split. |
4 March 2025 | First day of trading in the Company's share following the Reverse Share Split. As of this date, the share price reflects the effect of the Reverse Share Split. |
5 March 2025 | Record date for the Reverse Share Split. |
6 March 2025 | The new number of shares is expected to be registered in each shareholder's VPC account. |
Certified Advisor
UB Corporate Finance Oy, of Helsinki, Finland, (www.unitedbankers.fi) is the Company's Certified Advisor on Nasdaq First North Growth Market, Stockholm.
Other
The Company's shares are listed on Nasdaq First North Growth Market, Stockholm under the trade designation "ARCT".
For further information
see the Company's website at www.arcticminerals.se or contact:
Peter George, Director
(+61) 439 731012
peter.george@arcticminerals.se
About Arctic Minerals
Arctic Minerals is a Nordic mineral exploration company exploring for copper, gold and battery metals in the Nordics.. Stay up to date with the latest developments for Arctic Minerals via the Company's social media at X, Facebook, LinkedIn, Instagram and YouTube.
The information was submitted for publication, through the agency of the contact person set out above, at 12.00 a.m. CET on 26 February 2025.
