FY2014 Dividend Timetable Amended
Perth, Oct 27, 2014 AEST (ABN Newswire) - Metals X Limited (ASX:MLX) (MTXXY:OTCMKTS) (Metals X or the Company) advises that the FY2014 Dividend timetable announced on 17 October 2014 has been amended to comply with the timetable set for the proposed capital consolidation and the ASX Listing Rules.
Amended Dividend Timetable
Ex Date for Dividend 12.12.2014
Record Date for Dividend 16.12.2014
Last date for receipt of election notice for participation in DRP 17.12.2014
Payment date of Dividend 07.01.2015
Issue date of shares under DRP 07.01.2015
Metals X announced on 10 October 2014 that it has declared an final dividend of 0.6785 cents per share for the financial year ending 30 June 2014 and the introduction of a Dividend Reinvestment Plan (DRP). The dividend will be 100% franked.
Metals X also announced that it will recommend to shareholders at the AGM on 26 November 2014 that the issued capital of the Company be consolidated on the basis of one (1) new share for every four (4) shares currently on issue. If the consolidation is approved by shareholders at the AGM the issued capital of the Company will be approximately 414 million shares and accordingly the dividend paid will be 2.715 cents per share.
Metals X's DRP allows eligible shareholders to elect to invest dividends in ordinary shares in Metals X which rank equally with Metals X's quoted shares. A copy of the DRP can be found on the Company's website.
The issue price for shares under the DRP will be calculated at a 5% discount to the daily VWAP of Metals X's shares 5 business days from the commencement of the second trading day after the Record Date being 18 December 2014 to 24 December 2014 inclusive.
Shareholders can participate in the DRP either in full or in part at their election. Shareholders wishing to register for the DRP can do so by completing and returning a DRP Election Form prior to 8 December 2014.
Shareholders are advised that all cash dividends will be paid by ELECTRONIC PAYMENT ONLY to come into line with the process undertaken by many listed companies, all dividends will only be available for payment through the dividend reinvestment plan or be paid directly into the shareholder's nominated bank account. This also supports Metals X's focus on cost minimisation, efficiency and best practice. Not only will shareholders receive their dividend payment much sooner, this will reduce the potential for misplacement of their dividend cheque.
A DRP Election Form, Bank Account Details Form and Tax File Number Notification Form will be posted to all shareholders. Alternatively shareholders can update their details directly online at:
About Metals X Limited
Metals X Limited (ASX:MLX) (OTCMKTS:MTXXY) is a Diversified Resource Company. Australia's largest tin and one of Australia's top 10 gold producers. Considerable cashflow is generated from its two operating gold mines at South Kalgoorlie and Higginsville in WA and from its 50% owned high grade tin mine in Tasmania which is also one of the largest hard rock tin mines in the world. The company boasts resources of over 14 Moz of gold, 140,000 tonnes of contained tin and over 2 million tonnes of contained nickel. The company also has a considerable portfolio of growth assets, including one production ready and one development ready gold project and one of the world's largest undeveloped nickel and cobalt projects.
The Central Murchison Gold Project consists of a fully refurbished 2.0Mtpa gold plant and resource containing over 8.6 Mozs of gold in a combination of high grade underground mines and lower grade open pits, expected to be in production in early 2015. The Company's Rover 1 iron-oxide-copper-gold discovery contains 1.2Moz of gold equivalence which is targeted for production in 2016.
The 100% owned world class Wingellina Nickel and Cobalt Project hosts a global resource of over 180Mt at 1% nickel that includes 167Mt as a probable reserve. Metals X has joined with one of the World's largest companies, Samsung C and T, to work together to finance and develop the Wingellina project.