Paladin set to return to ASX

WHILE the good news is shareholders of creaking uranium miner Paladin Resources will soon be able to once again trade their shares, the bad news is their shareholdings have been decimated.

Paladin set to return to ASX Paladin set to return to ASX Paladin set to return to ASX Paladin set to return to ASX Paladin set to return to ASX

Paladin has announced its restructure has been completed, with two new directors appointed and an application to be reinstated on the ASX set to be lodged.

The restructure has seen 98% of Paladin’s shares placed with creditors, meaning former shareholders now hold just 2% of the company.

The creditors include new noteholders investing US$115 million in the Paladin business.      

David Rieke and Daniel Harris have been appointed non-exec directors of Paladin, with both men experienced corporate execs – and the latter also having an extensive operational background.

They’ll help oversee a business that last quarter sold 1.24 million pounds of uranium for $22.39 per pound, ...