6th Oct 2011 10:18
6 October 2011
Polo Resources Limited("Polo" or "the Company")
RESUlT OF GENERAL MEETING OF SHAREHOLDERS
Shareholders approve exercise of option to acquire shares in Signet Petroleum Limited
The Company is pleased to announce that the resolution put to the shareholders of the Company at the General Meeting held today has been duly passed, with over 98 per cent of shareholders voting (in person or by proxy) approving the resolution. Following approval by shareholders, exercise of the Option described below remains conditional on completion of legal and technical due diligence - which is ongoing - to the satisfaction of the Company's directors.
The resolution approved the exercise of the option granted to the Company by Signet Petroleum Limited ("Signet") to acquire at least 4,285,714 new shares in the capital of Signet ("Signet Shares") and, subject to the written consent of Signet, to acquire up to 5,714,285 new Signet Shares each at a price per share of US$3.50 (the "Option").The Option lapses on 20 November 2011.
Further details of the Option are set out in the announcement by the Company dated 15 September 2011.
For further information, please contact:
Polo Resources Limited Ian Burns, Finance Director | + 27 82 404 36 37 |
Evolution Securities Matthew Tyler, Romil Patel, Jeremy Ellis | +44 (0) 20 7071 4300 |
Liberum Capital Chris Bowman, Tim Graham | +44 (0) 20 3100 2228 |
Blythe Weigh Communications Tim Blythe Ana Ribeiro Matthew Neal | +44 (0) 207 138 3204
|
Toronto Borden Ladner Gervais LLP Jeffery Barnes, Terence Lui
| +1 416 367 6229 |
About the Company
Polo Resources is a natural resources investment company focused on investing in undervalued companies and projects with strong fundamentals and attractive growth prospects. For complete details on Polo Resources: www.poloresources.com.
CAUTIONARY STATEMENT
The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of Polo Resources Limited. There can be no assurance that such statements will prove to be accurate, achievable or recognizable in the near term.
Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Polo Resources Limited assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
Related Shares:
POL.L