In a bid to streamline its capital structure, Xantippe Resources Ltd (ASX:XTC, OTC:XTCPF) has outlined plans to consolidate issued capital and has appointed Roth Capital Partners, LLC as corporate advisors.
This reshaping of Xantippe's capital framework would see every 200 existing shares convert into one, effectively reducing the number of shares in circulation from 11.48 billion to around 57.4 million with a view to improving future growth prospects.
Shareholders will not see a material effect on their percentage shareholding interest, as the consolidation applies equally across all security holders. With an improved capital structure and a more appropriate share price, the consolidation could attract a wider range of investors.
The company intends to announce an official Notice of Meeting, featuring an indicative timetable and further details, presently.
Expanding North American market strategy
Xantippe is also expanding its North American reach with the appointment of Roth Capital as a North American capital market advisor.
Known for its strong footing in the critical metals space and a history of guiding Australian mining firms, the US-based investment bank is expected to steer Xantippe's North American capital markets strategy.
Roth's portfolio of services spans from capital raising and equity research to macroeconomics and M&A advisory.
Xantippe hopes to leverage Roth Capital’s advice and services as it pursues its ambition of becoming a world leader in lithium-focused technology, logistics and supply.