10th Dec 2009 10:07
For Immediate Release
10 December 2009
Templar Minerals Limited
("Templar" or the "Company")
Notice of AGM
The Company has today sent a circular to shareholders concerning the resolutions to be proposed at this year's Annual General Meeting to be held at 11:00 am on Thursday 17 December 2009 comprising the following:
Ordinary Business
Resolution 1 - Receiving and adopting the Accounts
The Board recommends the receiving and adopting of the audited accounts for the financial period ended 30 June 2009, together with the Report of the Directors and the Auditors Report.
Resolutions 2 to 3 - Directors
The Board recommends the re-election of Charles Wood and Alastair Clayton, both of whom were appointed following the last annual general meeting. Each of them, being eligible, offers himself for re-election.
Brief biographies of the directors are set out below:
Charles Wood, Executive Director,
Mr Wood holds a Bachelor of Commerce, a post graduate degree in Corporate Finance. Mr. Wood has 10 years' experience working in corporate positions across a range of industries including Agriculture, Resources and Banking. Mr Wood has worked in numerous jurisdictions in Africa, South America and Australia and has extensive experience in independent expert's reports, due diligence, capital raisings and mergers and acquisitions. Most recently Mr Wood has been responsible for the development and funding of an agribusiness project in West Africa. Mr Wood is a member of the Audit and Remuneration committee.
Alastair Clayton, Non Executive Director,
Mr Clayton is a qualified geologist with a post graduate diploma in Finance and Economics from the Securities Institute of Australia. Mr Clayton has over 13 years experience in the mining and resources sector and has worked in Australia, Africa, Asia and Europe in both a technical and corporate capacity. He was until recently a non executive director of Bannerman Resources Ltd, a uranium development company that is currently completing a Bankable feasibility Study into the Etango Uranium deposit in Namibia and also a non executive director of Universal Coal plc which is seeking to develop coal projects in South Africa. He brings a wealth of financial and corporate expertise to the Company with particular access to European and North American markets. Mr Clayton is a member of the Audit and Remuneration committee.
Resolution 4 - Auditor's Reappointment and Remuneration
This Resolution relates to the Auditors' re-appointment and authorising the Directors to determine their remuneration. It is usual business for the Annual General Meeting.
Resolution 5 - Renewal of the Company's Investing Policy
The Company is seeking the consent of its Shareholders for the renewal of its Investing Policy as set out in the Admission Document issued in connection with the admission of the Company's ordinary shares to trading on AIM, being as follows:
Investing Policy
Templar Minerals Limited ("Templar") is a company, registered in the British Virgin Islands (''BVI'') for the purpose of making investments and/or acquisitions in the natural resources sector, which may include exploration, development or production projects in the minerals, base metals, precious metals or hydrocarbons sectors.
Templar will primarily focus as an active investor on investment and acquisition opportunities in Australia, Africa, North America, South America, Asia (including the Indian sub continent) and Western Europe. As at the date of this Document the main country of operation for the Company is the United Kingdom. Templar's interest in a proposed investment and/or acquisition may range from a minority position to 100 per cent. ownership. The proposed investments may be either quoted or unquoted and may be in companies, partnerships, earn-in joint ventures, debt or other loan structures, joint ventures or direct interests in natural resources projects.
It is intended that Templar will make investments which are in the development and/or production stages, however the Directors may decide that the Company should invest in early stage exploration assets where some exploration or development expenditure has already been made. The Directors intend to actively monitor any investments and/or acquisitions made by the Company.
Such investments may result in Templar acquiring the whole or part of a company or project, in the form of equity, joint venture debt, convertible instruments, licence rights, or other financial instruments as the Directors deem appropriate.
The Directors believe that their broad collective experience in the areas of acquisitions, accounting, corporate and financial management together with the opinion of consultant experts in the evaluation and exploitation of potential investments, which will assist them in the identification and evaluation of suitable opportunities, will enable the Company to achieve its objectives. Internationally recognised competent persons will be commissioned to prepare reports on the projects being considered by the Company, where the Directors consider it necessary. The Directors may undertake the initial project assessments themselves with additional independent technical advice as required. There is no limit on the number of projects into which the Company may invest.
The Company intends to be a long-term investor and the Directors will place no minimum or maximum limit on the length of time that any investment may be held.
As the Ordinary Shares are traded on AIM this provides a facility for Shareholders to realise their investment in the Company, the Directors may consider from time to time other means of facilitating returns to Shareholders including dividends, share repurchases, demergers, schemes of arrangement or liquidation.
RECOMMENDATION
The Board considers that each of the Resolutions is in the best interest of the Company and they unanimously recommend to the Shareholders that they should vote in favour of each of them.
Enquiries:
Templar Minerals Limited
David Lenigas Tel: +44 (0)20 7016 5100
Beaumont Cornish Limited
Roland Cornish / Rosalind Hill Abrahams Tel: +44 (0)20 7628 3396
A copy of the Circular will be available on the Company's website: www.templarminerals.com
Related Shares:
Arc Minerals