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PMA to issue shares, consolidate registry

PRECIOUS Metals Australia said yesterday it plans to issue new shares to extinguish a $710,000 debt owed to company directors Roderick Smith and Andrew McKee for cash loans and accrued holiday pay and long service leave.

Greg Tubby

The shares will be issued at 30c each (on a post consolidated basis), a 25% premium to Monday's closing price. PMA also plans to consolidate its more than 290 million securities to a tenth of this figure,...

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