#Sweden #Stockholm #Boliden #Neves-Corvo #Share Issues

Boliden's Extraordinary General Meeting Overview

On January 23, 2025, Boliden hosted its Extraordinary General Meeting (EGM) in Stockholm, providing both in-person and postal voting options for shareholders. This meeting was pivotal, marking significant steps in the company’s financial strategy. The Board of Directors presented a proposal that was subsequently approved, granting authorization to issue new shares. This decision is a key element of Boliden’s approach to refining its capital structure, particularly in relation to the recent acquisition financing of Neves-Corvo and Zinkgruvan.

Key Decisions Made

The primary resolution allows the Board to conduct one or several new share issues in the period up to the Annual General Meeting in 2025. Importantly, should these shares be issued without preferential rights to existing shareholders, they cannot exceed 15% of the shares outstanding as of this meeting date. This step is aimed at raising necessary funds to not only stabilize the capital framework but also to address financial obligations tied to the recently acquired assets.

Justification for the Share Issue

The need for capital was underscored by Boliden's strategy to refinance approximately half of a bridge loan secured during the acquisition of the two mining operations, Neves-Corvo and Zinkgruvan. By enhancing its capital base, Boliden aims to ensure long-term operational stability and growth potential, vital for sustaining its competitive edge in the mining and metals industry.

The decision reflects the Board’s proactive approach to managing company resources and financial health. Furthermore, it supports ongoing efforts in advancing operational efficiencies across Boliden's various mining assets and projects.

Accessing Meeting Minutes

For shareholders and interested parties seeking more detailed information about the proceedings of the EGM, the complete minutes, including resolutions passed, will be made available on Boliden’s official website. Interested shareholders may also request a copy of the minutes directly from the company by providing their postal address. This transparency is crucial for maintaining shareholder trust and engagement.

Closing Thoughts

Boliden’s authorization to issue new shares illustrates the company's commitment to a strong financial foundation amidst its expansion ambitions. With such strategic maneuvers, Boliden continues to position itself favorably within the competitive mining sector. With ongoing developments, stakeholders will be keen to observe the impact of these resolutions on Boliden’s market performance and overall business strategy in the coming years.