21st Sep 2009 10:57
China Goldmines plc ("CGM" or the "Company")
RESULTS OF GENERAL MEETING
CGM announces that, at the General Meeting of the Company held earlier this morning Resolution 1 was duly passed. The Disposal (as described in the Circular sent to shareholders on 1 September 2009) has now been approved and is expected to complete on 3 October 2009 subject to the remaining conditions being met or waived.
Immediately prior to the meeting the Board withdrew Resolution 2 relating to the Company's investing policy, despite those proxies which were received validly indicating that Resolution 2 would have been passed. After due consideration Resolution 2 was withdrawn due to a procedural discrepancy on a single voting block which, had it been lodged validly, would have influenced the outcome of the Resolution. The Board believes that the decision to withdraw this Resolution was in the best interests of all shareholders.
The Board will focus on the disposal of the assets, scheduled to close on 3 October 2009, as a priority and will submit a revised investment policy to shareholders for approval at a future general meeting to be held no later than 31 December 2009. The Directors intend to consult further with shareholders in relation to the revised investing strategy.
A further announcement will be made following this consultation process.
For further information please contact:
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China Goldmines plc Clive Donner (Non Executive Chairman) Frank Vanspeybroeck (CEO)
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+61 894 88 8882 +86 731 489 0755 |
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Threadneedle Communications Laurence Read |
+44 (0)20 7653 9855 |
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Brewin Dolphin Ltd (Nomad) Alex Dewar |
+44 (0)131 529 0276 |
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