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.
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