Kincora Copper Limited (ASX: KCC), an exploration company focused on world-class copper-gold discoveries in Australia and Mongolia, has announced an update to its security consolidation plans. The company’s initial announcement was made on July 8, 2025, and this update, released on August 1, 2025, provides further details on the timetable for the consolidation. The primary reason for this update is to refine the previously announced timetable.
The consolidation will see Kincora’s CHESS Depositary Interests (CDI), common shares, and various options consolidated on a 10-for-1 basis. This means that every ten pre-consolidation securities will be consolidated into one post-consolidation security. Approvals, including security holder approval, are required before business day 0 of the timetable, with security holder approval scheduled for August 27, 2025.
The record date for the consolidation is set for September 1, 2025. Trading in the pre-consolidation securities will cease on August 28, 2025, with trading in the post-consolidation securities commencing on a deferred settlement basis on August 29, 2025. The first day for Kincora to update its register and send holding statements to security holders is September 2, 2025, with a final deadline of September 8, 2025, to notify the ASX of completion. Normal T+2 trading will begin on September 9, 2025, and first settlement is scheduled for September 11, 2025.
Following the consolidation, the number of quoted CHESS Depositary Interests is expected to decrease from 235,479,088 to an estimated 23,547,909. Unquoted common shares will decrease from 56,241,816 to 5,624,182. The number of options expiring on various dates in 2025 and 2026 will also be reduced proportionally. The exercise price for these options will be adjusted from $0.075 to $0.75 post-consolidation. Fractions resulting from the consolidation will be rounded up to the next whole number.
