Toubani Resources Ltd has revealed that it has been registered as an Australian company effective from January 8, 2024.
Consequently, the company's name has also changed to Toubani Resources Limited from Toubani Resources Inc (ASX:TRE).
The continuance from Canada to Australia was previously approved by the company's shareholders at the annual general meeting held on September 1, 2023.
The board considers that the administration and efficiency of the company will be improved following the Australian Continuance, which may realise cost savings for Toubani.
ASX timetable
As part of the Australian continuance, the company's common shares will become fully paid ordinary shares on a 1:1 basis.
All shareholders will then hold shares directly in the company rather than through CHESS Depositary Interests (CDIs) and those shares will be tradeable on ASX.
Accordingly, all existing CDIs will be cancelled and new holding statements will be issued in support of the uncertificated shareholdings (in replacement of the existing CDI statements).
This table details the outstanding events in relation to the Australian Continuance.
About Toubani
Toubani Resources is an exploration and development company with a focus on advancing Africa’s next gold development project with its oxide-dominant Kobada Gold Project.
The company has a highly experienced board and management team with a proven African track record in advancing projects through exploration, development and into production.
Read more on Proactive Investors AU
