Protean Energy Plans Major Corporate Changes

Protean Energy Limited (AU:POW) has released an update.

Protean Energy Ltd, soon to be Aurora Rare Earths Limited, has announced a general meeting for shareholders to vote on significant corporate actions, including a proposed acquisition that will alter the company’s scale of activities, a consolidation of capital, and the creation of a new class of performance shares. Shareholders are urged to consult the Independent Expert’s Report by Moore Australia, which finds the Performance Shares issuance to be ‘not fair but reasonable’ for non-associated shareholders.

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