Red 5 Limited (AU:RED) has released an update.
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Silver Lake Resources Limited (SLR) has experienced a dilution in voting power in Red 5 Limited (RED) following a new share issue, reducing their voting power from 11.08% to 6.05%. This change occurred as part of a scheme of arrangement where RED acquired shares in SLR in exchange for issuing new RED shares, totaling 411,662,268 ordinary shares affected. This strategic move indicates a significant shift in share distribution and voting influence within the company.
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