31st May 2006 07:01
GVM Metals Ltd31 May 2006 GVM METALS LIMITED NOTICE OF GENERAL MEETING GRANT OF OPTIONS GVM Metals Ltd ("GVM" or "the Company") (ticker: "GVM"), the South Africanmineral processing and coal mining company, announces that has posted a circularto shareholders with details of a General Meeting to be held at the Swan Foyer,The Old Swan Brewery, 173 Mounts Bay Road, Perth, Western Australia on 28 June2006 at 10.00 am (WST), for the purpose of transacting the following business: Resolution 1: to ratify the issue of 3,612,500 Shares principally asconsideration for the acquisition of 74% of NIMAG (Proprietary) Ltd. Resolution 2: to approve the allotment and issue of 20,812,500 Shares at adeemed issue price of 25 cents each, to acquire a 74% interest in Limpopo Coalas announced on 26 April 2006. Resolution 3: to approve the allotment and issue of up to 40,000,000 Shares inthe capital of the Company at an issue price of not less than 80% of the averagemarket price of the Company's Shares on the ASX over the last 5 days on whichsales of the Shares are recorded before the date of issue. Any such newordinary Shares to be issued pursuant to a capital fundraising are to be issuedwithin 3 months of shareholders' approval, following which such authority willexpire. Resolution 4 - to authorise the Directors to grant 4,000,000 options for noconsideration, exercisable on or before 30 September 2011 at an exercise priceof 50 cents each, to Simon Farrell or his nominee. Resolution 5 - to authorise the Directors to grant 2,000,000 options for noconsideration, exercisable on or before 30 September 2011 at an exercise priceof 50 cents each, to Richard Linnell or his nominee. Resolution 6 - to authorise the Directors to grant 1,000,000 options for noconsideration, exercisable on or before 30 September 2011 at an exercise priceof 50 cents each, to Peter Cordin or his nominee. Resolution 7 - to authorize the Directors to grant 1,000,000 options for noconsideration, exercisable on or before 30 September 2011 at an exercise priceof 50 cents each, to Blair Sergeant or his nominee. Copies of the circular are available from the Company's website: www.gvm.com.au. Simon Farrell, Managing Director of GVM Metals, said: "The acquisition of Limpopo is a major step forward for GVM especially as theLimpopo area is seen by many as the new coal province of South Africa. Workcontinues at Holfontein and drilling is planned to commence at Limpopo beforethe end of the year. These two assets are the core of our future developmentand negotiations continue to further expand our interests in both areas." Enquiries Simon Farrell + 61 417 985 383GVM Metals Olly Cairns +44 (0) 20 7448 4400Corporate Synergy Leesa Peters / Abby Singleton +44 (0) 20 7429 6600 /6606Conduit PR For the purposes of Resolutions 1 - 7, the following definitions apply: "ASX" means Australian Stock Exchange Limited; "Company" means GVM Metals Limited ABN 98 008 905 388; "Corporations Act" means Corporations Act 2001 (Cth); "Limpopo Coal" means Limpopo Coal Company (Proprietary) Limited (formerlyZingaro Trade 39 (Proprietary) Limited), Registration No. 2005/006072/07, alimited liability private company duly incorporated in the Republic of SouthAfrica, and the owner of the Limpopo Coal Project; "Limpopo Coal Project" means the prospecting and exploitation of themetallurgical and bituminous coal resource on the Farms Over Vlakte 125 MS,Bergen Op Zoom 124 MS, Simple 155 MS and Voerspoed 836 MS, in respect of whichan application for prospecting rights has been made in the name of Limpopo Coal;and "Shares" means fully paid ordinary shares in the capital of the Company. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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