• FirstAu proposes a 20:1 share consolidation to simplify capital structure
• Consolidation aims to reduce the number of securities on issue
• Shareholder approval required under Corporations Act 2001

First Au Limited has announced its intention to undertake a 20:1 share consolidation to simplify its capital structure. The consolidation, which will apply to all shares, options, and performance rights, is intended to reduce the number of securities on issue and provide a capital structure and share price that the Board believes is more appropriate for the company's size and development stage. The consolidation will not alter the underlying value of shareholders' holdings or their proportional ownership, except for minor changes due to fractional entitlements. The proposal is subject to shareholder approval under section 254H of the Corporations Act 2001.

The consolidation is expected to provide a simplified capital structure, aiding in the company's expansion plans in the gold sector.