Atrum Coal NL: All Atrum Partly Paid Shares Paid In Full
15.11.2016 | ABN Newswire
Sydney - Atrum Coal NL ("Atrum" or 'The Company") (ASX:ATU) (OTCMKTS:ATRCF) is pleased to advise that, as per the Appendix 3b filed on 14 November 2016, the remaining 2,761,600 partly paid shares held by former director and founder, Mr Russell Moran, have been paid up, and that there are no longer any partly paid shares on issue in the Company.This has allowed the Company to put forward a resolution at the upcoming Annual General Meeting for shareholders to vote on converting the Company from a No Liability to a Limited (Ltd) structure. Total consideration paid to Atrum for the shares was $552,298.
Bob Bell, Executive Chairman, commented: "Mr Moran agreed to resolve the outstanding partly paid shares in order for the Company to change its structure from a No Liability to a Limited company. Atrum expects this will increase the appeal of our shares to various types of investors. Mr Moran agreed to resolve the issue for the benefit of all Atrum shareholders. The Limited structure is a more well-known structure, particularly to off-shore investors with less exposure to the NL structure."
About Atrum Coal NL:
Atrum Coal NL (ASX:ATU) is an emerging metallurgical coal explorer and developer. The Company has a substantial coal position in British Columbia which, as a region boasts:
- Abundance of high quality PCI, coking and anthracite coals
- Well developed rail and port infrastructure with excess capacity
- Access to deep sea ports
- Competitive shipping distance to Asia
- Positive government stance on mining
The Company is building a quality portfolio of metallurgical coal assets suited to the Asian export market and the Board of Directors have a strong track record in identifying and developing world class coal assets in Australia and abroad.
Contact:
Atrum Coal NL
Robert W. Bell Executive Chairman
M: +1-604-763-4180
E: rbell@atrumcoal.com
Theo Renard Company Secretary
M: +61-430-205-889
E: trenard@atrumcoal.com
Nathan Ryan Investor Relations
M: +61-420-582-887
E: nathan@atrumcoal.com