Astra Mining Ltd, a wholly owned subsidiary of international diversified resources company Astra Resources Plc (Code: 9AR), has been converted to a proprietary limited company operating as Astra Mining Pty Ltd effective 1 December 2011.
The conversion follows the rollup of the shares in Astra Mining to Astra Resources in September 2011, following approval obtained from the shareholders at the company’s Extraordinary General Meeting on 15 June 2011, and the listing of Astra Resources Plc on the Frankfurt Stock Exchange on 28 September 2011.
The conversion of Astra Mining to a proprietary limited company will significantly reduce operational and compliance costs for the Astra group.
Astra Resources’ global portfolio includes gold and iron sands interests in Southeast Asia, coal mines in Africa, iron ore in India, carbon efficient businesses, mining housing developments in Queensland and the production of the high-strength T-Steel technology in Hungary.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/22995/astra-mining-converts-to-a-proprietary-limited-company-22995.html
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