Kalium Lakes Ltd Sets Meeting for Major Recapitalization

Kalium Lakes Ltd (AU:KLL) has released an update.

Kalium Lakes Ltd has convened a General Meeting of Shareholders for June 6, 2024, to discuss a Recapitalisation Proposal following financial difficulties that led to their ASX suspension in 2023. Creditors have approved the proposal, which includes share consolidation, a capital raise of $162,000 through the allotment of 93 million shares, and the appointment of new directors. The recapitalization is contingent upon several conditions, including payments to Deed Administrators and creditor claim resolutions.

For further insights into AU:KLL stock, check out TipRanks’ Stock Analysis page.