Publication of insider information in accordance with Article 17 of the Market Abuse Regulation (MAR)
Dynastar AG decides to change its name and passes resolution for a capital increase against cash and non-cash contribution / contribution of Couno Resources
- Increase in share capital to a total of CHF 2,000,000
- Change of company name to SunMirror AG
- Relocation of registered office to Zug, Switzerland
- Change of financial year to 01 July - 30 June
Zurich - 31 August 2020. On the occasion of today's general meeting of Dynastar AG ("Dynastar"; ISIN: CH0396131929), the company's shareholders made important strategic decisions for the company's planned future orientation as a business focusing on the resources sector. Resolutions were passed, among others, on a mixed increase in capital against cash and non-cash contribution, with partial exclusion of the existing shareholders' subscription rights. In the course of the capital increase against cash contribution, 500,000 shares will be subscribed by strategic Couno investors at a price of CHF 1.00 each. Moreover, the resolution was passed to issue another 1,175,000 shares against non-cash contribution. Couno Resources S.A., a mining and exploration business, will in turn be transferred to Dynastar AG as a contribution in kind. On balance, Dynastar AG's share capital will therefore rise from CHF 325,000 to CHF 2,000,000.
In addition, Dynastar's general meeting resolved to change the company's name to SunMirror AG. The company's registered office is to be moved from Zurich to Zug.
Couno Resources focuses, among others, on natural resources such as gold, lithium, nickel and iron ore. In doing so, the exploration company concentrates primarily on areas known for their high geological potential, where some of the most productive mines and natural resource deposits in the world are located. Currently, Couno Resources is operating four projects in western Australia. The company boasts a management team with comprehensive mining expertise and a successful track record of many years.
Dynastar (to be renamed SunMirror AG) is planning further growth and will give preference to regions of the world that are classified as secure from a geo-political point of view. Investments in Europe could also be part of the company's future expansion strategy.
Dr Heinz Rudolf Kubli, member of the Board of Directors of Dynastar (to be renamed SunMirror AG): 'Global demand for natural resources will rise further over the next decades, driven by increasing industrial demand from threshold countries and industrial nations accompanied by the upswing of new technologies and sectors such as electric mobility. According to the assessment of numerous market experts gold, too, is at the beginning of a long-lasting boom. We are convinced that SunMirror will show dynamic growth in this environment.'
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