Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Panax Geothermal Updates On Share Consolidation, Name Change

Panax Geothermal's (ASX: PNX) shareholders voted unanimously to approve a 1 for 10 share consolidation last week at the company's Extra Ordinary General Meeting.

Panax's shares are currently trading under the deferred settlement ticker code of "PAXDA".

The company is also moving to change its name to the "Raya Group Limited", with a new ASX code to come following the finalisation of the registration of the new company name by ASIC.

Panax also announced earlier in the week that it is actively seeking to identify a complimentary pipeline of project opportunities, and is currently reviewing potential project opportunities (comprising both energy and precious metals projects) within Indonesia and other countries.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.