17th Dec 2009 16:07
For Immediate Release
17 December 2009
Templar Minerals Limited
("Templar" or the "Company")
Result of AGM
The Company is pleased to announce that at the Annual General Meeting held today, all Resolutions were passed.
Accordingly the renewal of its Investing Policy was approved, and is set out 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.
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
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Arc Minerals