Pathfinder revises deal to offload IM Minerals

Minerals explorer Pathfinder has signed a revised sale and purchase agreement for the disposal of IM Minerals (IMM), it announced on Friday.

The AIM-traded company said the new agreement did not alter the commercial terms outlined in its previous announcements, but instead improved the structuring mechanics concerning potential deferred consideration.

In addition to the sale and purchase agreement, Pathfinder also announced a shareholder circular and a notice convening a general meeting, to allow a vote on the proposed disposal of IMM.

The company first announced the sale of IMM in March, with the long stop date subsequently extended in April.

“The general meeting will be held at 33 St James' Square, London on 11 May at 1100 BST,” the board said in its statement.

At 1046 BST, shares in Pathfinder Minerals were up 17.5% at 0.47p.

Reporting by Josh White for Sharecast.com.