SINGAPORE (Yosefardi) – Shares of Wilton Resources Corporation Limited, formerly Hartawan Holdings Limited has commenced trading on Monday (December 16), marking a new chapter as a SGX Catalist-listed corporation involved in gold exploration and mining in Indonesia.
The commencement of trading follows the completion of a reverse takeover (RTO) of Catalist-listed Hartawan by Wilton Resources Holdings Pte. Ltd. (WRH), an investment holding company controlled by experienced entrepreneurs, Mr. Wijaya Lawrence of Indonesia and, Mr. Patrick Ngiam of Singapore.
At an Extraordinary General Meeting (EGM) held on 21 October 2013, shareholders of Hartawan approved the issue of 1.5 billion post-consolidation consideration shares, representing approximately 68.77% of the enlarged share capital of 2.2 billion shares, at S$0.20 each to WRH’s shareholders; and approved the change of name and new corporate identity.
The RTO marks a transformation of the company from a property leasing/management and hospitality company to a gold mining firm. Its concessions in West Java have a Total Resources of 1,176,000 oz (36,580 kg) of gold (au) with 557,300 oz (17,333kg) of gold (au) in Proved and Probable Ore Reserves under JORC code.