Hillgrove Resources to Rebrand as Kantra Copper, Propose 15-for-1 Share Consolidation; Shares Fall 8%

MT Newswires Live07-17 09:02

Hillgrove Resources (ASX:HGO) said it will seek shareholder approval to change its name to Kantra Copper and consolidate its shares on a 15-to-1 basis at its upcoming general meeting, according to a Friday filing with the Australian bourse.

The name change is intended to better represent the company's focus on copper production and the Kanmantoo Copper Mine, while establishing a stronger, future-oriented market identity, per the filing.

The share consolidation aims to align the company's share price and capital structure with industry peers, enhance market accessibility and transparency, while having no impact on shareholders' proportional ownership or indicating any planned capital raising, the filing added.

The company's shares fell around 8% in recent Friday trade.

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