Blackstone Resources holds Extraordinary General Meeting
BAAR, Switzerland – (21 December 2018) – Blackstone Resources AG (SWX: BLS; STU: 4BR, FRA: 4BR, BEB: 4BR) (“Blackstone”) held an Extraordinary General Meeting today in Zug. During the meeting two resolutions were passed. First, Blackstone has converted from bearer shares to registered shares. Second, one new director was elected to the Board of Directors.
Converting the bearer shares to registered shares will allow Blackstone to identity and communicate with its shareholders more directly. It will also help improve Blackstone's investor relations activities, by allowing it to analyse its shareholder-structure and shareholder activities more easily. As a consequence, Blackstone's management team will be able to focus more closely on the needs and requirements of Blackstone's shareholders.
The company is delighted to welcome a new board member Mr Ronald Gröflin. He joins the Board of Directors following the passing of the second resolution. He brings a diverse and valuable range of skills and experiences to the company. Furthermore, he shares Blackstone's vision for the electric automobile industry and believes in the strong upside potential behind this structural trend.
Mr Ronald Gröflin has been an investment advisor to Blackstone. His board level position will allow the company to further leverage from the skillset he brings. He has held numerous senior investment advisory positions across a number of top tier banks over the course of his career. These have included UBS, Merrill Lynch, Credit Suisse and HSBC Private Bank.
Mr Kim Ludvigsen will be leaving the Board of Directors following the company’s listing on the SIX Swiss Exchange earlier this year. We would like to thank Mr Kim Ludvigsen for his valuable contribution to the company over the years and the tremendous support he has provided during the company’s listing. We wish him all the best for his future endeavours.
Blackstone expects a consolidated loss for the fiscal year-end 2018 in the range of CHF 12-14 million. Unrealised losses from the Blackstone’s strategic investment interests, especially in cobalt, were the most significant contributors to the company’s loss. Blackstone Resources believes, however, that the long-term investment thesis in battery metals and the fundamentals that support this long-term structural trend, remain firmly intact.