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ChemX Materials Limited ( (AU:CMX) ) has issued an announcement.
ChemX Materials Limited has announced a General Meeting of Shareholders to discuss the Recapitalisation Proposal, which includes issuing over 1.1 billion shares to raise $178,000 and appointing new directors. The proposal is crucial for the company’s financial recovery and requires shareholder approval. If the conditions are not met by the deadline, the company may face liquidation, highlighting the urgency of the situation for stakeholders.
More about ChemX Materials Limited
ChemX Materials Limited operates in the materials industry and is focused on restructuring and recapitalizing its operations. The company is currently under a Deed of Company Arrangement due to financial difficulties, with a focus on regaining its position in the market.
Technical Sentiment Signal: Sell
See more data about CMX stock on TipRanks’ Stock Analysis page.