30th Nov 2007 12:25
Vane Minerals PLC30 November 2007 30th November 2007 AIM: VML VANE Minerals Plc ("VANE" or "the Company") Result of EGM VANE announces that following its Extraordinary General Meeting ("EGM"), held at11am today, all proposed resolutions were duly passed by shareholders. The EGM was convened primarily to seek the necessary authorities to approve aplacing of Ordinary shares of 10p each ("Shares") to raise approximately £6.25million at a placing price of 17.5p per Share. Application has been made for the 35,714,285 new Shares issued today to beadmitted to trading on AIM. It is expected that trading in the Shares willcommence on Monday 3rd December. The net proceeds of the Placing will be primarily used to accelerate VANE'sbreccia pipe drilling campaign in Northern Arizona, where the Company has 39drill targets, and to proceed with further rounds of drilling on the Company'ssix properties in Utah. It is envisaged that further drilling at the North AliceExtension and North Wash in Utah should enable the Company to produce a NationalInstrument 43-101 complaint resource statement in the early part of 2008. Enquiries: VANE Minerals Plc Westwind Partners Ambrian Partners Limited Parkgreen Communications Matthew Idiens Paul Newman Richard Brown Beth Harris/Laura Llewelyn +44 (0) 20 7667 6322 +44 (0) 20 7290 9713 +44 (0) 20 7776 6417 +44 (0) 20 7851 7480 For further information, please review: www.vaneminerals.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Rosebank