Solidcore Resources plc has announced that all resolutions at its recent General Meeting were approved, enabling the company to move forward with its Final Exchange Offer and a potential Mandatory Buyback of shares held in Euroclear. The announcement follows the disclosure made on 14 July 2025.
The company stated, “With this, the Company is now launching the Final Exchange Offer, to be followed, subject to the approval of the Board of Directors (the ‘Board’), by a procedure which will allow the Company to implement the Mandatory Buyback of all shares which continue to be held in Euroclear.”
Shareholders who hold their shares through Russia’s National Settlement Depository or indirectly under Euroclear via Russian depositories are being encouraged to exchange their holdings for AIX-issued shares on a one-for-one basis. Transfers must be completed by 31 October 2025. Details for Nominated Brokers can be found on Solidcore’s website within an FAQ document available at https://www.solidcore-resources.com/ru/corporate-action/.
For those holding shares in Euroclear through non-sanctioned brokers or depositories outside Russia and who have not yet transferred them to AIX, Solidcore urges completion of transfers via an AIX trading member or registrar by 31 October 2025.
Shares not tendered into the Final Exchange Offer and still held through Euroclear may be subject to a mandatory buyback at $2.57 per share as outlined in the Circular. According to Solidcore, “The Company does not intend to implement the Mandatory Buyback prior to completion of the Final Exchange Offer. Implementation of the Mandatory Buyback is in the Board’s absolute discretion.”
Further information about both procedures can be found in documents available at https://www.solidcore-resources.com/en/corporate-action/.
Key dates include:
– Announcement of General Meeting results and opening of Final Exchange Offer: 30 July 2025
– Deadline for transferring eligible shares: 31 October 2025
– Settlement date for last tranche/exchange offer close: on or before 28 November 2025
– Earliest possible start date for mandatory buyback process: on or after 3 November 2025
The company noted that these dates could change and any updates would be posted on its website.
Voting results from the General Meeting showed strong support across all resolutions related to off-market purchases under the exchange offer, changes to articles of association, restricted share disposal, and handling treasury shares connected with both actions. For each resolution, over 91% voted in favor.
Nominated Brokers may set earlier deadlines according to their own internal procedures.
